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FM, PSU banks meet on July 3 to boost banking sector

Among the objectives of the meeting include direct benefit transfer, deteriorating asset quality and credit growth

June 27, 2013 3:53 IST | India Infoline News Service
In order to review the performance of banks and also to boost the growth of the banking sector, finance minister P Chidambaram will meet chief executives of public sector banks on July 3.

Among the objectives of the meeting include direct benefit transfer, deteriorating asset quality and credit growth, according to a media report.

The finance minister is expected to review measures being taken by banks to push infrastructure projects, asset quality and credit inflow to productive sectors.

The finance minster is also expected to ask banks to increase lending to productive sectors to prop up growth. The minister may also ask banks to reduce their lending rates for pushing up loan growth and economic activity, the report further said.

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