NIFTY 50

FM raps PSU banks, says branch-level officials aren't aware of govt schemes

Updated : February 27, 2020 08:10 AM IST

Finance Minister Nirmala Sitharaman has pulled up public sector banks over the issue of credit disbursal.

Speaking at a meeting with PSU bank chiefs, the FM asked them to step up action to push credit as at the branch level, many bank officials are not aware of government schemes. The FM also said that unknowingly there has been a big shift from branch-level connect with customers to the use of data analytics on customers.

"I know all schemes don't get executed in every branch. Some branches have more need for some schemes, some other branch probably doesn't even need one or two. There could be specialized branches that deal with corporate requirements. However as they say in Hindi, 'gyan' on government schemes is not like before. You probably are having people sitting in the branch level not even aware of the schemes which have to be implemented through that branch in that particular area," the minister said.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you