Finance Minister Pranab Mukherjee, on September 17, will take stock of the performance of select banks and this exercise will not just be limited to financial indicators. Re-instituting a practice he initiated during his first stint as finance minister some 25 years ago, Mukherjee will also review the banks’ capacity towards meeting region-specific needs. In the first out of a series of zone-wise meetings to be held this fiscal, the ministry has invited only the banks based in the western zone. This meeting will be attended by the chief ministers and finance ministers of six states and the administrators of two union territories located in the western part of the country. “The idea is to assess whether region-specific credit needs are being met by the banks in these states and we have invited the states to come up with what they specifically need from the banking sector. The FM had taken a review of the overall banking sector about two months ago but this time round the agenda will be focused more on state-wise issues,” a senior financial ministry official told The Indian Express.
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