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Time of India
7 hours ago
- Business
- Time of India
MP Kota Shrinivasa Poojary urges nationalised banks to be more efficient and people-friendly
Udupi: MP Kota Shrinivasa Poojary called on nationalised banks in the district to function more efficiently and adopt a people-friendly approach. He stressed the need for the simplification of procedures, especially for educational loans, and insisted that beneficiaries selected under govt schemes receive their due benefits without delay. Presiding over the District Lead Bank Progress Review Meeting held at Dr VS Acharya Hall on the zilla panchayat premises, on Saturday, the MP said financial aid under central and state govt schemes should be made accessible to the public without hassle. He urged banks to increase enrolment under flagship schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana. He also cautioned banks against arbitrarily rejecting applications forwarded by govt departments. Poojary said bank officials and staff must communicate with customers in Kannada. In cases where officials are unable to do so, locals should be deputed to assist. He said more emphasis on PM Mudra and Startup schemes could promote self-employment and contribute to the district's economic growth. Udupi currently ranks second in the state in loan disbursement under the PM Vishwakarma scheme, and he urged officials to work towards achieving the top spot. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Laxmi Ji Idol For Wealth, Peace & Happiness Luxeartisanship Shop Now Undo Zilla panchayat CEO Prateek Bayal stressed that financial support under RBI's priority sector norms should be enhanced. Banks must understand their social responsibility and maintain citizen-friendly practices. He directed banks to ensure 100% achievement of individual targets and urged them not to harass women from self-help groups seeking loans for self-employment. He said banks must assist them with proper guidance on schemes and required documentation. Bayal also raised concerns over certain banks continuing to collect stamp duty despite exemptions for sectors like agriculture, education, and SHGs. He warned that the issue would be taken seriously and recommended strict action if violations continue. He further noted that the district is yet to meet the Rs 12 lakh target for activities under social infrastructure, renewable energy, fisheries, and self-employment. Canara Bank Udupi RO-2 AGM and regional manager Tadinada Srinag Purnananda presented performance figures for FY 2024–25. The agricultural sector achieved 86.3%, MSME 91.1%, education 95.5%, and housing 85.4%. The credit-deposit (CD) ratio improved slightly from 46.9% last year to 47.7% this year. The Annual District Credit Plan (ADP) booklet for FY 2025–26 was released during the event.
Mint
13-06-2025
- Business
- Mint
FM to meet heads of public sector banks on June 27 for annual review
New Delhi, Jun 13 (PTI) Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on June 27, to discuss host of issues including review of financial performance and implementation of various government schemes. This is going to be the first review meeting after the Reserve Bank on Friday carried out a jumbo policy rate cut of 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis points to 3 per cent in tranches that will add ₹ 2.5 lakh crore to already surplus liquidity in the banking system. According to sources, the Finance Minister would review the financial performance of public sector banks and their targets for the current financial year. Besides, sources said, the minister may urge public sector banks to increase their lending towards productive sectors to prop of economic growth which hit four-year low of 6.5 per cent in FY25. Comprehensive review of various segments and progress in government schemes including the Kisan Credit Card, PM Mudra and three social security (Jan Suraksha) schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) might be discussed during the meeting. It is to be noted that Public Sector Banks' (PSBs) cumulative profit rose to a record level of ₹ 1.78 lakh crore in the fiscal year ended March 2025, registering a growth of 26 per cent over the previous year. All 12 public sector banks had earned a total profit of ₹ 1.41 lakh crore in FY'24. The year-on-year increase in profit in absolute terms rose by about ₹ 37,100 crore in FY25. Out of the total profit of ₹ 1,78,364 crore earned during FY'25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on stock exchanges. SBI logged a net profit of ₹ 70,901 crore in FY25, 16 per cent higher than the previous fiscal ( ₹ 61,077 crore). In percentage terms, Delhi-based Punjab National Bank reported the highest net profit growth of 102 per cent to ₹ 16,630 crore, followed by Punjab & Sind Bank with a 71 per cent rise to ₹ 1,016 crore. During the year, all 12 public sector banks (PSBs) reported a rise in profit.
