Ministry of Finance to Hold a Meeting With Cmds of Public Sector Banks
INVC NEWS New Delhi, In view of the fact that the level of Non Performing Assets (NPAs) and the stressed projects of Public Sector Banks (PSBs) have been showing an upward trend in the last four quarters, the Department of Financial Services (DFS), Ministry of Finance is going to hold a meeting of CMDs of Public Sector Banks (PSBs) on 28th April, 2015 at RBI Office in Mumbai. In this meeting, case by case review of some of the major projects of infrastructure sector such as Road, Power, Steel and Shipping would be undertaken by the Ministry in the presence of Senior Officers of the Ministries of Power, Steel, Transport, Shipping and the Senior Officers of RBI. The objective of this meeting is to understand the problems faced by the project promoters and the banks in retrieving them and to find-out a solution to such problems. This meeting would help the Department to crystalise the actions required by Banks, Ministry of Finance and other concerned Central Ministries as well as support required from RBI.