Jayant Sinha, Minister of State for Finance, met top fund managers and brokers for their suggestions on the possible measures the government could introduce to boost retail investors' participation in domestic markets and revive public sector banks. While expressing concern over investor apathy towards public sector banks (PSU banks), Sinha said the government is working to introduce measures to clean up the books of the state-owned lenders.
Sinha met leading brokers and chief investment officers (CIOs) of the top domestic mutual funds such as HDFC Mutual Fund, ICICI Prudential, Reliance, Birla SunLife, among others, separately in the country's financial capital on Friday. "The minister told us that the government recognises where the stress is (in PSU banks) and is working towards resolving the problems and will clean and repair the balance sheets of PSU banks," said a senior fund manager who was part of the meeting.
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