Finance Minister Piyush Goyal has exhorted state-run banks to step up lending to micro, small and medium enterprises, agriculture and housing sectors. After his first meeting with the heads of Public Sector Banks (PSBs), he informed this. He said the Insolvency and Bankruptcy Code (IBC) has helped the PSBs recover over Rs 1 lakh crore in the three-quarters of the current fiscal.
Goyal said banks under Prompt Corrective Action (PCA) framework were advised to maintain the trend of improvement in performance, with a view to bringing them out of the PCA framework at the earliest.
He said, Banks also committed to stepping up their efforts for financing under Pradhan Mantri Awas Yojana which is aimed at securing Housing for All by 2022. Earlier, RBI Governor Das highlighted the importance of PSBs for the economy at all times and especially at the present juncture in helping meet broader economic goals
