New Delhi, Aug 3 (TIWN) Finance Minister Nirmala Sitharaman will be meeting the PSU bank heads and major private sector banks on August 5 to review credit growth in various sectors like MSMEs, retail, auto, NBFCs and HFCs which will provide key indications for the steps needed to accelerate GDP growth.

The Finance Minister will also meet stakeholders next week to finalise decisions and timelines for action on the U.K. Sinha Panel report on MSME sector, an official statement said on Friday.

Many of the actions proposed by the committee involve inter-ministerial coordination. The Finance Minister will be holding a meeting within the next week with revenue and expenditure departments, MSME ministry, and also ministries IT, rural development, health and family welfare, corporate affairs and Commerce as well as telecom to finalise decisions and timelines for action, the statement said.

The expert committee of U.K. Sinha which submitted the MSMEs recommendations for the sector's development in June, suggested Rs 5,000 crore stressed asset fund for MSMEs on the lines of the Textile Upgradation Fund Scheme in a relief to small businesses hurt by demonetization, the Goods and Services Tax and an ongoing liquidity crunch.