Finance Minister P Chidambaram will take stock of public sector banks’ performance on Tuesday, to assess whether credit is being provided to productive sectors, selected sectors are being given a boost and if the lenders are reining in the growth of non-performing assets (NPAs). He will also review interest rates on non-resident Indian accounts, in focus to take advantage of the rupee’s depreciation. The meeting comes weeks after the government agreed to infuse additional capital into banks to generate demand in consumer goods. It will assess how the reduction in lending rates by banks in recent weeks has helped credit offtake in two-wheelers and consumer durables, as well as in other sectors. The public sector banks (PSBs) might be asked to give their estimates on the capital infusion they would need during the year.
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