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FM to meet PSU Banks' chiefs on Nov 15 to discuss Q2 performance: Report

By Religare
FM to meet PSU Banks' chiefs to discuss performance
The finance minister P Chidambaram has been set to meet the chiefs of public sector banks on November 15, where he may review their Q2 performance also, apart from the discussions on lending and borrowing situation in the sector.

FM, who has recently vowed to check fiscal slippage and help RBI cut the rates, may review the situation of rising stress on banks' balance-sheets and slowdown in credit flow to priority sectors, said a media report. Credit flow to MSMEs and farm sector may also form part of the discussion, said report.

Most of the public sector banks, including Bank of India, Punjab National Bank and IDBI Bank, have reported rising stress and falling profitability in the Q2 performance.

The meeting of PSU banks' chiefs with FM would then be followed by another meeting with Reserve Bank of India which has recently decided to pull the lenders for rising bad loans and decided to raise the provisions requirement against restructured assets.

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