You are here: Home » Finance » News » Banks
Business Standard

Record Rs 4.9 trillion loans disbursed during Oct-Nov: Sitharaman

Finance Minister Nirmala Sitharaman in September had asked banks to reach out to customers and signal their willingness to lend following all prudential norms

Press Trust of India  |  New Delhi 

Finance Minister Nirmala Sitharaman speaks to journalists after a cabinet meeting in Delhi (Photo: PTI)
Finance Minister Nirmala Sitharaman speaks to journalists after a cabinet meeting in Delhi (Photo: PTI)

Public sector disbursed a record Rs 4.91 lakh crore of loans during the festive month of October and November, the ministry said on Tuesday.

In a bid to boost consumption and revive the economy, Minister in September had asked to reach out to customers and signal their willingness to lend following all prudential norms.

Under her direction, outreach camps or loan melas were conducted across 374 districts across the country 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.

During October, disbursed Rs 2.52 lakh crore while Rs 2.39 lakh crore in November.

This has raised the total disbursement by public sector banks to various sectors since the launch of the Customer Outreach in October to Rs 4.91 lakh crore, it said.

First Published: Tue, December 03 2019. 17:40 IST
RECOMMENDED FOR YOU