Finance Minister Arun Jaitley on Friday held discussions with banks on a range of issues including asset quality and transmission of Reserve Bank rate cuts by banks. Here are highlights of Mr Jaitley's press conference.
- Discussed transmission of RBI cuts
- Hopeful of further rate cuts by banks
- Focus of discussion was asset quality
- Also discussed loan growth, stalled projects
- Private banks will also play an important role in social security schemes
- Government spending in infra has increased, effect on road sector etc being seen
- Many of the stalled projects have started
- Banking secretary will prepare a list of stalled projects which are stalled due to finance
- Will try to resolve those projects in the next few weeks
- Keeping fingers crossed for monsoon
- Banks put up a strong case for additional capital being pumped in them. Will consider this
- Banks asked government to relook at rates on small savings scheme
- Discussed roadmap for reducing stressed assets
- Discussed state of education and housing loans