FM Nirmala Sitharaman embarks on official visit to Spain, Portugal and Brazil from June 30 to July 5
According to the Ministry of Finance, as part of her visit to Seville, Spain, the Union Finance Minister will attend the 4th International Conference on Financing for Development (FFD4) organised by the United Nations and deliver a statement on behalf of India.
The Union Finance Minister will also participate and deliver a keynote address at the International Business Forum Leadership Summit on 'From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development', in Seville. On the sidelines of the FFD4, Sitharaman will meet senior ministers from Germany, Peru and New Zealand, and the President of, European Investment Bank (EIB).
As part of her visit to Lisbon, Portugal, the Union Finance Minister is expected to have a bilateral meeting with the Minister of Finance, Portugal, besides interacting with prominent investors and members of the Indian diaspora.
At Rio de Janeiro, the Union Finance Minister will address the 10th Annual Meeting of the New Development Bank (NDB) as India's Governor and also attend the BRICS Finance Ministers and Central Bank Governors Meeting (FMCBG).
As part of the NDB meetings, Sitharaman will also deliver an address during the NDB Flagship Governors Seminar on 'Building a Premier Multilateral Development Bank for the Global South'.
On the sidelines of the NDB meetings, the Union Finance Minister will hold bilateral meetings with her counterparts from Brazil, China, Indonesia and Russia.
Earlier, on June 28, the Finance Minister chaired the annual review meeting with MDs and CEOs of Public Sector Banks (PSBs) in New Delhi. The meeting reviewed performance across key areas with a focus on Financial Strength, Inclusive Lending, Cyber Security, and Customer-Centric Innovation in FY 2024-25.
PSBs posted a record net profit of 1.78 lakh crore, reflecting the continued strengthening of financial performance. Net Non-Performing Assets (NNPAs) declined to a multi-year low of 0.52%, indicating sustained improvement in asset quality and risk management.
The Union Finance Minister directed the PSBs to participate actively in the upcoming 3-month Financial Inclusion saturation campaign, beginning July 1, 2025, covering 2.7 lakh Gram Panchayats and Urban Local Bodies. (ANI)
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