Finance Minister Piyush Goyal and heads of 13 public sectors banks meet is underway in New Delhi. The meeting is being held to resolve various issues concerning public sector banks.
This is the first meeting with the heads of the Public sector banks after their annual financial result for 2017-18. Most of the banks posted loss in the fourth quarter of the last fiscal. These banks are headquartered in the east, south and northern regions.
Sources said, almost all banks have reported increase in non-performing assets as per the February 12 RBI, guidelines. The new guidelines have specified framework for early identification and reporting of stressed assets.
In addition, the issues concerning banks which are under the Prompt Corrective Action framework of the Reserve Bank would also be discussed.