Thread by @PIBMumbai

Press Conference by FM @nsitharaman will begin shortly.

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@DrBhagwatKarad

FM @nsitharaman is addressing a Press conference now.

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We Reviewed the annual performance of Public Sector banks and also the implementation of announcements of various #COVID19 related packages and #AatmanirbharBharat package- @nsitharaman during Media briefing in Mumbai

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Banks have been directed to interact with Export Promotion Agencies as well as with bodies of industry and commerce so the requirements of exporters can be timely well-addressed : @nsitharaman during Media briefing in Mumbai

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Banks have been directed to interact regularly with Federation of Indian Exporters Organisation so the exporters don't have to shuttle between various bankers- @nsitharaman

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With changed times, now industries have option of raising funds even from outside banking sector. Banks themselves are raising funds through various avenues. These new aspects need to be studied to target credit where it is needed- @nsitharaman
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We highlighted that Banks can play a crucial role by hand-holding industries from a particular sector to enable them to become an exporter and thereby play an important role in assisting One district one Product scheme suggested by Prime Minister - @nsitharaman

From inputs given by officers from Tax administration, it emerged that Banks need to understand the special requirements of Sunrise sector. e.g. Fintech, one such sector can provide technological help to banks as well as can benefit from help from banking sector- @nsitharaman

Logistics, export needs of North Eastern states needs to be looked after individually. As Prime Minister has suggested banks need to cater to demand of organic fruit sector of North east, market reach for north eastern products - @nsitharaman

CASA deposits are piling up in Eastern States. Banks should give facility of greater credit expansion in that region. So the credit flow to business units in that region can be better promoted. - @nsitharaman

Collectively all banks are performing well, they have come out of Prompt Corrective Action. They are showing clear profits and 2 of them have done very well. Banks have shown that now they can raise money for their capital requirements- @nsitharaman

Despite the customer requirements during #COVID19 pandemic, work of amalgamation of banks has not suffered- @nsitharaman during Media briefing in Mumbai

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Proposal for enhancement of family pension and employer's contribution under the NPS is approved by FM. The benefits would now accrue to family pensioners

Cap on pay is removed and uniform slab of 30% will be in force. Pension can go as high as ₹ 35000 -@DFS_India Secretary

There will also be 40% rise in contribution of employer (Banks) in NPS. It will go up from 10% to 14% -@DFS_India Secretary

I appreciate the way Customs department worked tirelessly during #COVID19 times and did commendable work in ensuring seamless passage of important material. Collection of 1 lakh crore revenue monthly would not have been feasible without exemplary work by GST dept - @nsitharaman

Between Oct 19 and March 21 banks did outreach programme and fulfilled all kind of credit requirements of RAM sector (Retail, Agri and MSME).

4.94 lakh crores were distributed in it. We will do credit outreach this year too starting from October. - @nsitharaman

Overseas Direct listing is under consideration of the government and Government through legislative amendment is trying to ensure smooth trading of securities outside India. - Revenue secretary Shri Tarun Bajaj

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For success of scheme announced to help #COVID19-hit hawkers, the local authorities have to first recognize hawkers selling in particular spot. Hence co-ordination of banks with local authorities is key to the success of this scheme. - @nsitharaman

We are not "Selling off" anything through #NMP and there will be definite "handing back" of assets being monetised - stresses @nsitharaman about National Monetisation Pipeline during Media briefing in Mumbai

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We are putting brownfield assets which are being underutilized to better use by the process of monetisation - @nsitharaman

https://twitter.com/PIBMumbai/status/1430467386302353409

Life insurance, General Insurance and Re-insurance are crucial sectors where there will always be government presence (though bare minimum).

Moreover, Government understands the concerns of employees and will look after their interests and it has always done so- @nsitharaman

Even during supply chain disruptions during #COVID19 , inflation was contained below 6%. We are coordinating with states to crack down on hoarding of pulses and other measures - @nsitharaman during Media briefing in Mumbai

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Annual Review of Banks confirmed that PSBs have earned profit of 30,000 crores. There is Capital Adequacy ratio of 14% as against the requirement mandated by regulator of 10.875%. Net NPAs are down to 3.1% from 9% seen 2 years ago. - @DFS_India Secretary Debasish Panda

Please read employees as "bank employees" in quoted tweet below

https://twitter.com/PIBMumbai/status/1430458076507770880

Bank Employees Family Pension to be increased to 30% of last pay drawn

Banks’ contribution to NPS Corpus of PSU Bank employees to be enhanced to 14%

Details 📖pib.gov.in/PressReleseDet…