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Over Rs 81,700 cr disbursed by banks during 9-day loan mela: Sitharaman

She said the banks have sufficient liquidity, and efforts are being made to ensure that due payments are released to the MSME sector

Press Trust of India  |  New Delhi 

FM Nirmala Sitharaman during a meeting with private sector banks in New Delhi, Sept. 26, 2019. (Photo:PTI)
FM Nirmala Sitharaman (Photo:PTI)

The Ministry on Monday said loans worth Rs 81,781 crore were disbursed during the nine-day outreach programme or loan mela organised by that began on October 1.

Secretary Rajeev Kumar said "Rs 81,781 crore was disbursed in the outreach programme. Of these, new loans accounted for Rs 34,342 crore."

Further, Minister said the have sufficient liquidity, and efforts are being made to ensure that due payments are released to the micro, small and medium enterprises (MSME) sector by large corporates.

In order to ensure liquidity for small businesses, Sitharaman said that have been asked to provide bill discounting facility to the MSME sector against payments due from the large corporates.

According to returns filed by the large corporates to the Ministry of Corporate Affairs, as much as Rs 40,000 crore is due to the MSME sector, she said adding that all efforts would be made to ensure that MSMEs get their dues ahead of Diwali.

India celebrates the festival of light on October 27.

First Published: Mon, October 14 2019. 14:40 IST
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