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Problems of NBFCs have largely been addressed, says PNB

Updated : January 29, 2019 11:52 AM IST

Interim finance minister Piyush Goyal met with the top public sector undertaking (PSU) bankers on Monday, ahead of the interim Budget.

Speaking after the meeting, Goyal said various measures to support the small and medium industries were discussed. He assured all the support from the centre to the state-run banks.

Talking about the meeting, Sunil Mehta, managing director of Punjab National Bank, said, “It was not a bank specific, they(discussions) were industry-specific ... one of the schemes which was discussed was Pradhan Mantri Awas Yojana (PMAY), how the bankers can contribute in a better way for the spread of this scheme."

“Some of the private sector banks have really done good and public sector banks are also picking up pace in this area and they are also sufficiently contributing into it. What are the issues involved were discussed and efforts have been made to sensitise the people about availability of this facility at all the branches,” he added.

Speaking about the meeting with Reserve Bank of India’s (RBI) governor, he further mentioned said, “The RBI governor was here to take an overview of the situation, the existing insolvency and bankruptcy code (IBC) framework, the issues being faced by the banks in the recovery of their dues were discussed and there were other issues relating to liquidity were also discussed.”

“It seems by and large the problems of non-banking financial companies (NBFCs) have already been addressed, the liquidity is comfortable, and there are not big challenges among the system. So overall view was taken on this issue,” said Mehta.
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