State-run Oriental Bank of Commerce (OBC) will host the annual bank economists' meet in New Delhi by the end of the calendar year. This was decided at the management committee meeting of the Indian Banks' Association (IBA) in Mumbai yesterday.
With this, curtains have been drawn on the Jammu and Kashmir Bank's unsuccessful attempts to hold the meet. J&K Bank had to postpone it twice as no banker was willing to attend the meeting at Srinagar for security reasons. On its part, J&K Bank refused to shift the venue to Delhi.
At yesterday's management committee meeting, banks decided to give a big push to the recovery drive through the settlement advisory panels. "The bankers took stock of the situation and it was decided every bank would go all out to pare the level of non- performing assets (NPAs)," said a source who attended the meeting.
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Select bankers will meet in Delhi today to discuss the use of Lok Adalats for settling disputes involving smaller accounts. Special secretary Devi Dayal has called the meeting. Lok Adalats deal with small bad accounts up to Rs 5 lakh.
The ministry of finance will also be holding another meeting with bankers in Delhi today on financing of sugar industries.