Finance Minister Nirmala Sitharaman will hold a review meeting with public sector banks today. Introduction of repo-rate linked products to step up affordable credit, doorstep banking facility, monitoring of loans to MSMEs, small traders, SHGs and micro finance Institutions borrowers and collaboration of banks with non-banking financial companies, NBFCs for co-origination of loans are some of the agenda expected to come up for discussion during the meeting.
The Centre is expected to review the announcement made by the Finance Minister last month to mandate release of security documents within 15 days of loan closure. The Ministry is expected to take stock of pooled assets of NBFCs or housing finance companies purchased by PSBs, following a one-time credit guarantee of up to Rs 1 trillion announced in the Budget 2019-20.
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