NEW DELHI: The finance ministry has called heads of public sector banks for a meeting next week to take stock of progress on introduction of repo rate-linked loan products, online loan application tracking, and doorstep banking.

The meeting on September 19, to be chaired by finance secretary Rajiv Kumar, is expected to discuss a range of issues around the proposed consolidation of public sector banks that finance minister Nirmala Sitharaman had announced late last month and steps to improve the banking system.

ET has seen a copy of the agenda of the meeting. Among the many points of discussion are follow-up action on the Reserve Bank of India’s policy rate cut, introduction of repo rate-linked loans, online loan application tracking, doorstep banking, and progress on resolving delayed GST refunds.

The RBI had last week cut the repo rate — or, the rate at which it lends money to commercial banks — to 5.4% so that banks can reduce their loan rates for consumers, firms and institutions. The move was intended to mitigate the consumption slowdown that has gripped the economy.

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