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Finance Minister Sitharaman reviews functioning of Public Sector Banks

Updated: June 10, 2020 1:00 pm

Finance Minister Nirmala Sitharaman has reviewed functioning of Public Sector Banks with regard to loan sanctions for MSMEs and other companies under Emergency Credit Line Guarantee Scheme. In a meeting held yesterday, with the head of the banks, she lauded their efforts for achieving sanctions of over 20 thousand crore rupees under the Atmanirbhar Package within a short span of time.

The Finance Minister advised bank officials to maintain proactive outreach at branch level and make loan forms and formalities simple. Ms. Sitharaman exhorted all public sector banks to continue focused approach to hand out loans to every eligible MSME. The Finance Minister reiterated that loans under the Credit Guarantee Scheme are meant for meeting credit needs of all kinds of companies and are not only restricted to micro, small or medium enterprise.

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