Mumbai: public sector banks ,public sector banks) will be assessed for customer service, which will be measured on the basis of customer service rating, They will also focus on the banking needs of the younger generation and formulate plans to meet the all-round needs of the customers.
Senior officials of the Ministry of Finance including Minister of State for Finance Bhagwat Kishanrao Karad met with CEOs of public sector banks on Monday to set the agenda for the annual performance review and the next phase of reforms under EZNext.
Each public sector bank will sign a Memorandum of Understanding (MoU) with the Finance Ministry focusing on performance parameters that now include use of data analytics, technological investments for end-to-end digital systems and strengthening of IT systems. Will happen. Banks are also expected to collaborate with fintech players digital transactions and co-lending.
Public sector banks have consolidated the turnaround achieved in FY2011 with 109% growth in net profit. PSBs also reported a 9.8% jump in credit growth. Bank Of Maharashtra The highest growth has been registered in Gross Advances with credit growth of 25.6%. Its deposit growth was 16% which was the highest among public sector banks.
Under other performance parameters for FY23, banks have been asked to improve their credit deposit ratio by increasing their loan book. They have also been asked to increase their share in low cost deposits by opening more current accounts.
Senior officials of the Ministry of Finance including Minister of State for Finance Bhagwat Kishanrao Karad met with CEOs of public sector banks on Monday to set the agenda for the annual performance review and the next phase of reforms under EZNext.
Each public sector bank will sign a Memorandum of Understanding (MoU) with the Finance Ministry focusing on performance parameters that now include use of data analytics, technological investments for end-to-end digital systems and strengthening of IT systems. Will happen. Banks are also expected to collaborate with fintech players digital transactions and co-lending.
Public sector banks have consolidated the turnaround achieved in FY2011 with 109% growth in net profit. PSBs also reported a 9.8% jump in credit growth. Bank Of Maharashtra The highest growth has been registered in Gross Advances with credit growth of 25.6%. Its deposit growth was 16% which was the highest among public sector banks.
Under other performance parameters for FY23, banks have been asked to improve their credit deposit ratio by increasing their loan book. They have also been asked to increase their share in low cost deposits by opening more current accounts.