Union Finance Minister Smt. Nirmala Sitharaman chairs meeting to review the preparedness of Public Sector Banks in wake of the stress in banking systems in the US and Europe
During the PSB review meeting, the Finance Minister emphasized on preparedness along with due diligence through adherence to the regulatory framework by focusing on risk management, diversification of deposits and assets base.
The Finance Minister underlined that PSBs must look at business models closely to identify stress points, including concentration risks and adverse exposures. Smt. Sitharaman also exhorted PSBs to use this opportunity to frame detailed crisis management and communication strategies.
