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There will be improvement in the functioning of public sector banks, 6 working groups formed

New Delhi. Six working groups set up to suggest ways to improve the process of digitization and strengthen books of accounts in public sector banks (PSBs) have been asked to submit their reports by December this year.

A senior bank official gave this information. The issue was discussed in ‘Manthan 2022’, a meeting of top officials of public sector banks, the official said. An official who was present in this meeting held on April 22, said that these six working groups will focus on the functioning of PSBs and suggest ways to improve customer service, digitization, HR initiatives, corporate governance and collaboration.

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Financial services secretary Sanjay Malhotra, who attended the meeting, recently asked banks to devise strategies for long-term profitability and adopt customer-friendly modalities. Giving the details of the meeting, this bank official said that these working groups can submit their report by the end of this year.

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Another official said that all working groups will hold regular meetings and review will be done from time to time to ascertain the progress of each group.

Tags: Bank, Business news in hindi

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