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The Finance Ministry has convened a meeting of chief executives of state-owned banks on April 26. The meeting is expected to discuss the performance of banks in achieving the various parameters that were committed for the year 2010-11.
Indications are that the issues relating to statement of intent (SOI) for 2011-12 would also be discussed at the meeting. At the beginning of every financial year, banks make commitments, through SOI, to the Finance Ministry on various parameters, including expected deposit growth, credit growth and agriculture credit growth for that year.
Besides financial parameters and status of bad loans, the meeting is also likely to discuss banks' performance on achieving financial inclusion. Public sector banks have been tasked to provide banking services by March 2012 in all villages where population is more than 2,000.
As this meeting is slated to happen during the West Bengal assembly polls, indications are that it would be chaired by Mr Shashi Kant Sharma, Secretary, Department of Financial Services, Ministry of Finance. Polling in West Bengal will be spread over six phases — April 18, 23 and 27 and May 3, 7 and 10.
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