FM Sitharaman asks PSBs to conduct credit outreach programme across India

The government will look to amalgamate or disinvest in entities in the financial sector after ensuring that it has minimum presence, she said

Finance Minister Nirmala Sitharaman on Wednesday asked public sector banks (PSBs) to reach out to various sectors, especially export, to address their credit needs in order to keep up the momentum of the stimulus for economic revival. She also told them to conduct a credit outreach programme in every district of the country, starting October.

“I don’t think it is time yet to conclude that there is no credit pick-up. Even without awaiting indications, we have taken steps to ramp up credit,” Sitharaman said while addressing the media in Mumbai.

Banks had done a similar exercise in 2019 wherein they covered all