FM Nirmala Sitharaman to Review PSU Banks' FY25 Strategies on May 15

 Finance Minister Nirmala Sitharaman is set to meet with top executives of public sector banks (PSBs) on May 15 to assess their performance and growth plans for FY25. The review meeting will focus on key financial metrics including credit growth, asset quality, and progress in implementing government schemes.

The gathering is significant as it comes at a time when India’s banking sector has shown notable resilience, with many PSBs reporting improved profitability, reduced non-performing assets (NPAs), and stronger capital positions. The government is aiming to ensure that these positive trends continue into the current fiscal year.

During the session, the Finance Minister will likely emphasize the need for robust credit flow to priority sectors such as agriculture, MSMEs, and infrastructure. Enhancing the digital banking ecosystem and ensuring last-mile delivery of financial services in rural and underserved areas will also be high on the agenda.

Another expected area of focus is the preparedness of banks in handling cybersecurity threats, amid rising concerns around digital fraud. Discussions may also cover the progress of government flagship initiatives like the Emergency Credit Line Guarantee Scheme (ECLGS), Kisan Credit Cards, and Pradhan Mantri Mudra Yojana.

In addition to financial performance, the meeting will serve as a platform to review strategic goals such as digitization, customer service improvements, and inclusive banking. It reflects the government’s continued efforts to make PSBs more agile, customer-focused, and aligned with India’s economic growth ambitions.

The review may also touch upon hiring strategies, branch expansion, and steps taken toward sustainability and green financing.

Overall, this meeting marks a proactive step by the government to maintain the momentum in banking reforms, ensuring PSBs contribute effectively to the broader economic development goals in FY25.

For full details, visit the original article on Moneycontrol.