![]() ![]() ![]() She also announced plans to chair meetings across different regions of the country to review the functioning of regional rural banks (RRBs) and their sponsor banks, with a focus on technological upgradation. The finance minister advised banks to ensure that there is fair and transparent recognition of NPAs as per the guidelines of the regulator and to periodically review it internally to ensure that there is proper recognition and reporting of the stressed assets. Strengthened by high capital adequacy of 15.53% capital risk to assets ratio-comparable to the major economies of the world-clean balance sheets supported by a healthy provision coverage (90.68%), and improved resilience, PSBs are well-positioned to support the credit needs of the productive sectors of the growing economy. ![]() In FY23, PSBs earned a record aggregate net profit of around ₹1.05 trillion, almost triple what they earned in FY14. It was noted at the meeting that the asset quality of PSBs has improved significantly with gross non performing assets at 4.97% and net NPAs at 1.24% in March 2023. Government data shows that all the major financial parameters including credit deployment, profitability, asset quality and capital adequacy indicate that the performance of PSBs has significantly improved and they were well capitalised, resilient and have sound financial health. She said banks ensure that the PSL targets are achieved across all sub-categories including agriculture-particularly small and marginal farmers -and micro enterprises. Chairing a meeting to review the performance of public sector banks (PSBs) on various financial health parameters for FY23, the finance minister advised banks to ensure an increase in rural, agriculture and sectoral credit in order to meet priority sector lending (PSL) norms. ![]()
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