Why is the finance minister planning to meet the chiefs of all PSU banks?
Answer
Answer
The Finance Minister, Nirmala Sitharaman, is scheduled to meet the chiefs of PSU banks on Saturday, the 23rd of April. The idea of the meeting is to review performance of banks on various schemes launched by the government for economic recovery. Banks will most likely be urged to give a big push to industrial and non-farm credit in FY23. After 5 years of losses, PSBs earned net profit of Rs.31,820 crore in FY21 and could cross Rs.50,000 crore in FY22.