The Hindu Business Line : Chidambaram to meet PSB chiefs on Aug 1

New Delhi, July 14 Public sector banks’ (PSBs) lending to minorities is set to once again come under Government scanner. These banks have now been asked to submit to the Government the status of their branch opening efforts in the 121 minority dominated districts of the country.

Official sources said that the Finance Minister, Mr P. Chidambaram, is expected to personally review this issue during his meeting with the Chief Executives of PSBs here on August 1.

The Government has been advising the PSBs to step up lending to minorities under priority sector. In particular, they have been asked to open more branches in minority dominated districts (as identified by the Ministry) of the country.

Besides reviewing the action taken report in respect of decisions taken in the last meeting of April 19, Mr Chidambaram is also likely to evaluate the financial performance of PSBs for the year ended March 31, 2007.

In the last meeting, some of the banks came in for some caution on the delays in submission of certain anti-money laundering compliance reports to the Finance Ministry.

At the forthcoming meeting with the chief executives of PSBs, Nabard and SIDBI, Mr Chidambaram is also likely to review the credit flow from PSBs to agriculture and small and medium enterprises sector.

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Chidambaram to meet PSB chiefs on Aug 1