Govt adopts a new approach to bring reforms in public sector banks

FinMin has asked govt-owned banks to capture 42 questions on credit, non-performing assets, Mudra loans, agriculture

The National Democratic Alliance government has adopted a new approach to bring reforms in public sector banks (PSBs), with the finance ministry asking lenders to hold month-long consultations to review their performance and achieve various economic objectives.

Beginning Saturday, branch- or regional-level officials will hold intra-bank meetings and map performance of branches which will be followed up by inter-bank meetings (chaired by PSB chiefs) and ultimately a national-level two-day brainstorming in Delhi.

The Department of Financial Services, under the finance ministry, has forwarded a 108-page dossier