Banking Secy Rajiv Takru to meet heads of PSU banks on June 6
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Banking Secy Rajiv Takru to meet heads of PSU banks on June 6

Last Updated: Tuesday, June 04, 2013, 19:00
 
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Banking Secy Rajiv Takru to meet heads of PSU banks on June 6
New Delhi: Financial Services Secretary Rajiv Takru is scheduled to meet heads of the public sector banks on June 6 to review the steps being taken by the banks to push stalled infrastructure projects.

The secretary would also review the annual financial performance, asset quality and credit inflow to productive sectors.

Non-performing assets of the banks have been on the rise for past several months due to slowdown in the economy.

The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed four percent of the total assets at the end of March, 2013.

Gross NPAs of PSU banks have risen from Rs 71,080 crore as on March 2011, to Rs 1.55 lakh crore as on December 2012.

Confirming the June 6 meet, official sources said the meeting will also take stock of preparedness of banks with regard to subsidy transfer through DBT scheme.

Finance Minister P Chidambaram after meeting chiefs of the state-owned banks in March had said stalled projects in sectors like power, coal, iron, steel and road transport is a matter of worry.

As many as 215 projects with an investment of Rs 7 lakh crore are currently stalled and banks have disbursed about Rs 54,000 crore loan towards it, Chidambaram had said.

The Finance Minister had said government has identified the main reasons for delay in commencement of new projects in key infrastructure sectors, especially in road and power.

There are 126 new projects for which the outlay is Rs 3.55 lakh crore and the amount sanctioned by banks against these was Rs 43,000 crore.

"The main reasons (for delays) are coal linkage, environment clearances, land acquisition," he had said, adding there is now a greater degree of confidence than what was there 6 months ago.

PTI



First Published: Tuesday, June 04, 2013, 18:59


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