Sources said the Ministry of Finance will conduct the quarterly performance review of public sector banks on March 25. The ministry will also provide an update on the objectives of government programs such as Emergency Credit Line Guarantee Scheme (ECLGS), Pradhan Mantri MUDRA Yojana (PMMY), Kisan Credit Cards (KCC).
The Ministry of Finance will review the performance of public sector banks on March 25, people briefed said CNBC-TV18adding that the ministry is also likely to issue a notice to banks to remain vigilant.
Sources said the Ministry of Finance will conduct the quarterly performance review of public sector banks on March 25. The ministry will also provide an update on the objectives of government programs such as Emergency Credit Line Guarantee Scheme (ECLGS), Pradhan Mantri MUDRA Yojana (PMMY), Kisan Credit Cards (KCC).
The sources said the ministry is likely to issue a notice to banks to remain vigilant and vigilant. They also said data on large exposures would be shared with the Reserve Bank of India and the government.
Officials have said that there is no emergency in any of the sectors covered by the ECLGS, so there is no logic for another expansion and the usefulness of the program has passed with the resumption of the program. ‘economy. The program was specifically designed to address the business disruption caused by Covid, particularly for MSMEs and was first announced during the Covid-19 lockdown in May 2020 as an emergency line of credit of Rs 3 lakh crore.
However, a formal decision on allowing the ECLGS to expire has yet to be made.
(Edited by : Chloka Badkar)
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