Sitharaman to review performance of credit schemes for SCs by public sector banks

Union Finance Minister Nirmala Sitharaman will hold a review meeting of public sector banks on Tuesday, where the focus would be on status and performance of their credit and other welfare schemes for Scheduled Castes (SCs).

Public sector banks give credit to people belonging to the SC community for various Central schemes like Stand-Up India, credit enhancement guarantee scheme for SCs and venture capital funds for the community, among others. All these activities are expected to be reviewed during the meeting, official sources said.

Apart from this, various loan schemes like the Pradhan Mantri Mudra Yojana, the National Rural Livelihood Mission (NRLM), the National Urban Livelihoods Mission (NULM), the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) as well as education loan, will also be reviewed.

Chairman of National Commission for SCs and heads of public sector banks as well as representatives of financial institutions like SIDBI and NABARD as well as officials of the Department of Financial Services would also be present in the meeting.

The meeting would also review the measures undertaken for the welfare of SCs in public sector banks, reservation, backlog vacancies and action taken to fill them up and functioning of welfare and grievance redressal mechanisms, sources said.

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