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Arun Jaitley to Assess Financial Institutions’ Performance on June 12
June 15, 2017
On June 12, Finance Minister Arun Jaitley will meet with the heads of various financial institutions and public sector banks to review their performance and discuss the problems of increasing NPAs, the flow of credit in various sectors, and reduced interest rate. This meeting holds a special status as it would be the first since the Banking Regulation Act, 1949 amendment, which was announced last month.
As per the revised Banking Regulation Act, RBI is given additional powers to initiate proceedings with regard to financial institutions and banks in the interest of economy growth. Thus, the meeting on June 12 will also take into account the review of social security schemes such as PMJJBY, etc. and financial inclusion.
