Zee Media Bureau
New Delhi: The two-day retreat beginning today will kick off in Pune to discuss issues like consolidation and restructuring of the public sector banks (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 will be attending the retreat which is being called as "Gyan Sangam".
"The retreat will start at 1.30 p.m. Jan 2, 2015. After the introductory session where objectives of such an exercise are explained, there will a session on best practices where outstanding work done by banks will be showcased," official statement said.
Prime Minister Narendra Modi will hold discussions with bankers tomorrow (January 3) at Pune to draw an "action plan" for reforms in the PSBs.
Also efforts would be to seek "out of box" ideas from prominent experts and from top level managers attending the retreat.
The other topics of discussion will include 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
