FM Nirmala Sitharaman asks public, private sector banks to ensure adequate liquidity

Finance Minister Nirmala Sitharaman has asked the Chairman and Managing Directors (CMDs) of Banks to ensure adequate liquidity at the branch, ATM and banking correspondent level.

Ms Sitharaman held a detailed conversation with Chiefs of Public and Private sector banks yesterday. In a series of tweets, she said that it is encouraging to know that they are doing their best, even during the lockdown. She said they are certain that they will ensure customer service without disruption and will also adhere to social distancing.

The Finance Minister also acknowledged the role of public sector banks and encouraged them to keep up their efforts in providing uninterrupted banking services across the country. Ms Sitharaman also made one-to-one calls with CMDs of all public sector banks like SBI, PNB, Indian Bank, Canara Bank, Bank of Baroda and Bank of India among others and requested them to ensure uninterrupted banking services and directed them to implement social distancing at all points and to provide authorisation to bank staff and coordinate with district administration for smooth passage of bank staff.

She said, "During the call, the banks raised specific problems and were heard in detail. Solutions to these issues are being found through coordination with State Governments and all the problems are being addressed."

The Finance Minister also called the representatives of private sector banks to ensure that uninterrupted banking services are provided across the country while maintaining social distancing norms.