Zee Media Bureau
New Delhi: Prime Minister Narendra Modi will hold discussions with bankers on Saturday at Pune to draw an "action plan" for reforms in the public sector banks (PSBs).
Also efforts would be to seek "out of box" ideas from prominent experts and from top level managers attending the retreat.
The two-day retreat that kicked off in Pune yesterday discussed issues like consolidation and restructuring of the PSBs to improve efficiency, capital requirement, risk profiling and debt recovery.
Finance Minister Arun Jaitley, RBI Governor Raghuram Rajan, top officials of the Finance Ministry and heads of PSBs are among the attendees of the retreat which is being called as "Gyan Sangam".
The other topics of discussion includes financial inclusion, financial literacy, direct benefit transfer, priority sector lending, interest subvention and human resource.
The government decided last month to permit public sector banks to raise up to Rs.160,000 crore from capital markets by diluting government holding to 52 percent in phases so as to meet Basel III capital adequacy norms.
The government controls 22 of the 27 public sector banks through majority holding. In the remaining five banks, state-run State Bank of India holds majority stake.
With Agency Inputs
