PM Modi to Meet Stakeholders From Banks, NBFCs on Wednesday; Focus on Credit Products, Future Roadmap

New Delhi: In the wake of the ailing economy caused by the coronavirus lockdown, Prime Minister Narendra Modi will on Wednesday meet stakeholders from Banks and Non-Banking Financial Companies (NBFCs) to discuss and deliberate on vision and roadmap for the future. The meeting will happen on Wednesday evening. Also Read – Ram Mandir Bhumi Pujan: Modi Govt to Roll Out Development Projects Worth Rs 500 Crore in Ayodhya on August 5

As per updates from the Prime Minister’s Office, the topics on agenda include credit products and efficient models for delivery, financial empowerment through technology, prudential practices for stability and sustainability of the financial sector. Also Read – Right Decision at Right Time: PM Modi Explains Why India Better Placed in COVID-19 Flight

Earlier this month, PM Modi reviewed the state of the economy with Finance Minister Nirmala Sitharaman. Notably, he has been taking review meetings on various aspects of the economy and taking stock of the financial sector since the beginning of this month. Also Read – PM Modi Launches Covid Testing Facilities in Noida, Mumbai, Kolkata; Says It Will Now Strengthen States

The topics on agenda include credit products & efficient models for delivery, financial empowerment through technology, prudential practices for stability and sustainability of the financial sector: Prime Minister’s Office https://t.co/teRfvGab2u

— ANI (@ANI) July 28, 2020

Apart from stakeholders from banks and NBFCs, officials from finance ministry would also attend the meeting with PM Modi.

In the meeting, PM Modi will also take stock of credit flow and how much of the liquidity benefits have been passed on.

Looking at the coronavirus-induced lockdown, a number of banks are taking conservative approach in lending to retail sector with the uncertainty hovering over the retail segment.