Tag: stakeholders’ meeting

The Finance Ministry has convened a stakeholders’ conference, involving participation of chiefs of major lenders, secretaries of various central ministries/ departments, and industry associations, on November 17 and 18 for building synergy for seamless flow of credit into different sectors of the economy.

Secretaries representing various ministries/ departments of the Government of India are expected to provide insights to lenders pertaining to initiatives or projects in pipeline of their respective ministries/ departments that may require funding support.

Industry representatives too will be sharing their perspective on the evolving demand-supply situation in the economy and their credit requirements.

Also read: Credit offtake pickes up over the last two fortnights

This meeting comes in the backdrop of degrowth in corporate credit that lenders have witnessed on a year-on-year basis.

However, banks have built a robust pipeline of loan sanctions and they expect disbursals to pick up steam either towards the end of the current quarter or from the beginning of next quarter.

The chiefs of all public sector banks, top six private sector banks, six large non-banking finance companies, four all India financial institutions, and IIFCL and IFCI have been invited to participate in the meeting.

Message to banks

In his recent meeting with the chiefs of public sector banks and certain private sector banks, Shaktikanta Das, Governor, Reserve Bank of India (RBI), emphasised the need for banks to continue providing necessary support in the revival of economic activity.

Das had also advised the banks to remain vigilant to any emerging signs of vulnerabilities and take timely remedial measures to mitigate the risks and maintain the stability of not only the institutions themselves but also of the overall financial system.