08:28 GMT29 November 2020
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    Indian Finance Minister Arun Jaitley stated that banks should take proactive steps in funding various projects at a meeting with the heads of Public Sector Undertaking (PSU) banks.

    NEW DELHI, November 20 (Sputnik) — Indian Finance Minister Arun Jaitley suggested on Thursday that banks should take proactive measures in funding diverse projects.

    "We have suggested to banks that they should take proactive steps in funding various projects," Jaitley said at a meeting with the heads of Public Sector Undertaking (PSU) banks.

    The parties also discussed the state of markets, with the minister commending the work of PSU banks under different schemes.

    Jaitley also spoke of ways to reduce stress on the asset front with PSU banks and held a discussion about the so-called People's Wealth Plan.

    The minister's meeting with the heads of various PSU banks aimed to review their performance at the end of the second quarter of the year.

    Public Sector Undertakings in India are corporations in which the majority of shares are owned by either central or state government. The PSU include Public Sector Enterprises, Central Public Sector Enterprises and Public Sector Banks.


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