Amid a slowing economy and a crisis in the\nshadow banking sector, Prime Minister Narendra Modi is likely to meet chief\nexecutives of Indian banks on June 21 to chalk out a blueprint for the banking\nsector for the next five years.<\/p>\n\n\n\n
According to the bankers, they have been\ninformed about the meeting, though a formal communication is yet to be received.\nThe meeting assumes significance as the country\u2019s GDP growth slowed to 5.8% in\nthe January-March 2019 quarter, dragging down the full-year growth to a 5-year\nlow of 6.8%. Credit flow to productive sectors of the economy has been\nimpacted.<\/p>\n\n\n\n
The interaction with Mr. Modi, who assumed the\noffice of the Prime Minister for a second term last month, was indicated during\na meeting with Finance Minister Nirmala Sitharaman last week. The Finance\nMinistry has been holding discussions with bank chiefs on improving lending to\nmicro, small and medium enterprises, agriculture and other productive sectors\nof the economy, and also on ease of doing business.<\/p>\n\n\n\n
The Ministry has also held discussions with\nbanks on the ongoing crisis in non-banking financial sectors as NBFCs are\nfacing liquidity crunch following the debt default by IL&FS. Bankers said\nthe meeting could discuss the road map for public sector banks (PSBs) for the\nnext five years in terms of growth and consolidation.<\/p>\n\n\n\n
In its first term ended May 2019, the NDA\ngovernment oversaw the merger of Dena Bank and Vijaya Bank with Bank of Baroda,\nas also the associate banks of State Bank of India with the latter.<\/p>\n\n\n\n
There could be more consolidation among PSBs\ngoing ahead with the objective of creating size, bankers said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Amid a slowing economy and a crisis in the shadow banking sector, Prime Minister Narendra Modi is likely to meet chief executives of Indian banks on June 21 to chalk out a blueprint for the banking sector for the next five years. According to the bankers, they have been informed about the meeting, though a […]<\/p>\n","protected":false},"author":13,"featured_media":2528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[],"class_list":["post-2527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=2527"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2527\/revisions"}],"predecessor-version":[{"id":2529,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2527\/revisions\/2529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/2528"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=2527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=2527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=2527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}