New Delhi, June 14 -- Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on June 27, to discuss host of issues including review of financial performance and implementation of various government schemes.
This is going to be the first review meeting after the Reserve Bank on Friday carried out a jumbo policy rate cut of 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy.
The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis...