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Finance ministry, state-run banks discuss 3-year strategic roadmap
April 25, 2022
Finance ministry officials on Friday met public sector bank (PSB) executives to discuss their strategic three-year guide, collaboration among themselves, and implementation of base-level reforms.
The Center has initiated its two-day thoughts with state-owned lenders, the first-day meeting being PSB Manthan 2022 to discuss the implementation of next-generation reforms and explore strategies for long-term profitability.
It will hold a review meeting of banks on Saturday to assess their performance on financial inclusion.
The PSB Manthan, which resumed after 2019, focused on ways of further strengthening public sector banks.
It additionally expects to make the banks independent to raise capital from the markets, and not totally depend on the Center for fund infusion.
One of the themes of the meeting was to explore collaborations among PSBs, and large lenders were told to impart best practices to smaller banks where more expertise is required.
The meeting was chaired by financial services secretary Sanjay Malhotra, who advised banks to explore strategies for long-term profitability and adopt a more customer-centric approach, an official said.
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