Finance Minister Nirmala Sitharaman on Thursday asked heads of public sector banks to ensure fair and transparent recognition of bad loans and pursue robust risk management practices so as to maintain the momentum of growth and profitability.
In the review meeting with the top management of these banks on Saturday, discussions were held on the positive macro trends, improved business sentiments, ‘twin balance sheet advantage’ and performance of the state-run banks.
Sitharaman emphasised on the need for banks to adhere to the regulatory framework by focusing on risk management, and diversification of business base.
The business outlook is progressively improving in spite of the headwinds from recent global banking sector developments, she said.
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