Public Sector Banks (PSBs) disburses of Rs 4.91 lakh crore of loans in October-November 2019Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs, had announced in September the launch of Customer Outreach Initiative by Public Sector Banks (PSBs) to improve credit delivery and support the needs of the economy, with particular focus on MSMEs, NBFCs, corporates, retail and agriculture sector borrowers, without compromising prudential lending. Customer Outreach in October 2019 resulted in total credit disbursement of Rs 2.52 lakh crore.
The strong outreach effort of PSBs has continued in November as well, with disbursement of Rs 2.39 lakh crore to MSMEs, NBFCs, corporates, retail and agriculture sector borrowers. This has raised the total disbursement by PSBs to these sectors since the launch of the Customer Outreach in October to Rs 4.91 lakh crore.
To boost the MSME sector, out of the total, PSBs have disbursed Rs 35775 crore in November, raising the total Customer Outreach credit disbursed to MSMEs to Rs 72985 crore.
For NBFCs, out of the total, PSBs have disbursed Rs 25525 crore in November, increasing sharply from Rs 19628 crore in October, raising the total Customer Outreach credit disbursed to NBFCs to Rs 45153 crore. Total support sanctioned by PSBs in the form of credit to (including co-origination and on-lending) and pool buyouts from NBFCs since the IL&FS default in September 2018 till November 2019 has risen to Rs 4.23 lakh crore, including pool-buyouts of Rs 1.24 lakh crore.PSB disbursement in Customer Outreach (Rs crore) Loan category 43739 437701 MSME loans 37210 357752 Loans to NBFCs 17163 250053 Loans to corporates 122785 973664 Home loan 12166 150885 Vehicle loan 7085 40036 Education loan 425 6867 Agricultural loans 40504 378708 Other loans 15250 23454Total 252589 239245Source: Ministry of Finance
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