Finance Minister P Chidambaram will meet chief ministers of southern states and heads of public sector banks today in Bangalore, capital of Karnataka, to review the credit needs of the region and the progress of central schemes.
The meeting is expected to take up a range of issues, including loans related parameters, especially for agriculture, micro and small enterprises, housing, weaker sections and credit-deposit ratio, official sources said.
Among those who are expected to attend the meeting include chief ministers of Tamil Nadu, Karnataka, Andhra Pradesh, Kerala and Puducherry. Besides, representatives of Lakshadweep will also attend the meeting, they added.
The issue of financial inclusion is also likely to be discussed during the meeting with the public sector banks headquartered in the southern region.
Progress in extension of Swabhiman
campaign to ensure that each family has one bank account and Electronic Benefit Transfer for welfare schemes may also come under discussion.
Key pending projects and recovery issues related to the participating states are also likely to be discussed.
Revival package for Short Term Cooperative Credit Structure, implementation of Aam Admi Bima Yojna and co-contributory pension scheme by the states for unorganised sector workers under the Swavalamban Pension Scheme of Government of India are also on the agenda of the meeting.
Opening of new branches of Regional Rural Banks specifically in participating states/Union Territories is also be discussed in the meeting. This will be the first such meeting by the current Finance Minister with the southern state chief ministers and CEOs of public sector banks and financial institutions together after assuming the charge of Finance Ministry in August.
The high-profile meeting with the chief ministers will be held against the backdrop of the half-yearly review of monetary policy by the RBI last month, wherein the key policy rates were left unchanged.