Finance Secretary to chair review meeting of PSBs

New Delhi, September 12 The Finance Ministry has also convened a meeting of all Public Sector Banks (PSBs) on September 19 to discuss various issues including follow up action with respect to RBI rate cuts.

This review meeting will be chaired by Finance Secretary Rajiv Kumar, sources said.

Among various issues to be discussed include introduction of repo rate linked loan products to step up affordable credit; mandated release of security documents within 15 days post loan closure; online tracking of loan applications; OTS policy, with check box approach, to improve transparency of OTS system and monitor the purchase of pooled assets of NBFCs/HFCs upto Rs 1 lakh crore, at the top management level under the partial credit guarantee scheme.

The meeting will also review the loans provided to MSMEs and the collaboration of banks with NBFCs for co-origination of loans, sources added.

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