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The Finance Minister, Mr Pranab Mukherjee, will undertake a detailed review of the financial performance of public sector banks (PSBs) next month, a top Finance Ministry official has said.
Many state-owned banks/PSBs are yet to report their fourth quarter performance for 2010-11. The proposed review is expected to cover even the fourth quarter financial performance of the PSBs.
“Maybe towards end of May”, Mr Sashi Kant Sharma, Financial Services Secretary, told reporters when asked about the tentative date for the review meeting to be taken by the Finance Minister.
Mr Sharma said that at the meeting with chief executives of PSBs here on Tuesday, banks' performance was analysed against the set parameters for credit growth, non-performing assets, and so on, . The progress made by PSBs under financial inclusion programme was also discussed, he added.
Financial inclusion
It was also decided at the meeting that banks will go in for the second phase of financial inclusion so as to cover all the un-banked villages of the country. As part of the first phase of financial inclusion, the Government had identified 73,000 villages where banking services were to be provided.
Mr Sharma also said that the bankers also discussed the proposed programme of direct transfer of subsidies. The other issue that figured in the deliberations was the aspect of linking up of financial inclusion programme with the Aadhar (Unique Identification Number), which involved issuance of biometric identification cards.
He however maintained that issues such as inflation and possible monetary policy response of the RBI on May 3 did not come up for discussions during the meeting.
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