Jaitley to hand over loan sanction letters to small entrepreneurs

Union Finance Minister Arun Jaitley will hand over loan sanction letters on Friday to beneficiaries at a mega campaign organised by Punjab National Bank (PNB) near here, said an official statement.

In a statement issued here, the finance ministry said the distribution of loan sanction letters to borrowers by Jaitley is part of the mega credit campaign to be conducted by public sector banks across the country between September 25 and October 2.

The campaign is to to generate credit to micro enterprises and also to create an eco system of bank credit to aspiring small and micro entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY).

"Micro entrepreneurs, very small traders, fruit sellers, and mechanics etc. would be actively participating in the said campaign," the statement said.

All public sector banks, regional rural banks and private sector banks have a target of Rs.1,22,000 crore during the current financial year for disbursement to small and micro enterprises.