RBI will significantly improve banking sector in reasonable time: Arun Jaitley

Zee Media Bureau

New Delhi: Finance Minister Arun Jaitley on Monday said that the Reserve Bank will significantly improve the banking sector in reasonable time.

Addressing the media after quarterly review meeting of Chairmen and MDs of Public Sector Banks and financial institutions, Jaitley said that he has discussed issues with regards to synergies with PSBs, roadmap for the year and credit requirements from various sectors.

“We had discussions almost in relation to certain specific banks also,” Jaitley said.

The FM also reviewed credit offtake by sectors such as home, education and corporates. Furthermore, he assessed the progress made under the Jan Dhan Yojana and Prime Minister's social security schemes, among other issues.

Jaitley stressed upon the need to address each sector's NPA problems independently. The gross NPAs of PSBs rose to 6.03 percent at the end of June 2015, as against 5.20 percent in March 2015.

“Discussed issue of wilful defaulters. As demand picks up, credit offtake will also pick up,” the FM said.