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Today, on August 19, Finance Minister Nirmala Sitharaman will review PSBs and RRBs' performance, focusing on deposit growth and asset quality. Discussions will include digital payments, Viksit Bharat card, NARCL accounts, government schemes, and cybersecurity issues. Public banks will remain in focus.
Today, on August 19, Finance Minister Nirmala Sitharaman will conduct a detailed review of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs). This review will assess several crucial financial metrics, including deposit growth, credit-deposit (CD) ratios, and asset quality.
Focus on Key Financial Metrics
The review will centre on evaluating the financial performance of PSBs and RRBs, with a particular emphasis on key indicators such as deposit growth and CD ratios. Asset quality will also be scrutinised to ensure the stability and efficiency of these financial institutions.
The meeting will also address the issuance of the Viksit Bharat card, a significant initiative aimed at enhancing digital payments across the country. This move is part of the broader effort to streamline and modernise financial transactions and banking services.
An update on the National Asset Reconstruction Company Limited (NARCL), colloquially known as the 'bad bank,' will be provided. This includes the status of accounts being acquired by NARCL.
Additionally, the performance of major government schemes such as the Pradhan Mantri Awas Yojana (PMAY), Pradhan Mantri Surya Ghar, and Pradhan Mantri Vishwakarma will be evaluated.
Cybersecurity concerns related to digital transactions and banking operations will also be a key topic of discussion. Ensuring the security of financial transactions and protecting against cyber threats are critical components of the review.
In line with this review, public sector banks will be in the spotlight. Their share prices, including SBI share price, Bank of Baroda share price, PNB share price, and Bank of India share price, are expected to be closely monitored.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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