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No liquidity crisis, says FM Sitharaman after bankers meeting
Finance Minister Nirmala Sitharaman continues her interactions with lenders, seeking to improve liquidity in financial system.
Things are looking up for the economy and demand will pick up soon, said Finance Minister Nirmala Sitharaman on Thursday after meeting leaders of private banks and financial institutions.
The "sum and substance of what I heard was that there is no liquidity crisis," she said in Delhi.
The government has been nudging banks to lend, aiming to end a liquidity crunch which has been hurting business and consumer demand.
Sitharaman had on September 19 announced state-owned banks (PSBs) will hold public meetings with borrowers for distributing loans in 400 districts of the country to boost demand ahead of the festive season.
The government also told PSBs not to declare stressed assets of micro, small and medium enterprises (MSMEs) as non-performing till March 31 next year.