பொதுத்துறை வங்கிகள் அக்டோபரில் ரூ .2.5 லட்சம் கோடிக்கு மேல் கடன்களை வழங்கின – டைம்ஸ் ஆப் இந்தியா

பொதுத்துறை வங்கிகள் அக்டோபரில் ரூ .2.5 லட்சம் கோடிக்கு மேல் கடன்களை வழங்கின – டைம்ஸ் ஆப் இந்தியா

Translating…

Public sector banks disbursed Rs 1.1 lakh crore as new term loan, while Rs 46,800 crore was disbursed towards new working capital loans. They conducted customer outreach programmes in collaboration with other banks and NBFCs in 226 districts in Phase I and 148 districts in Phase II.

Highlights

  • Public sector banks disbursed Rs 1.1 lakh crore as new term loan, while Rs 46,800 crore was disbursed towards new working capital loans
  • PSBs conducted customer outreach programmes in collaboration with other banks and NBFCs in 226 districts in Phase I and 148 districts in Phase II

Union finance minister Nirmala Sitharaman (File photo)Union finance minister Nirmala Sitharaman (File photo)

NEW DELHI:

Public sector banks

(PSBs) disbursed

loans

totalling Rs 2.53 lakh crore in October as part of the massive outreach programme that they undertook after being prodded by the government to fan out and increase lending across the country in the festival season.

They disbursed Rs 1.1 lakh crore as new term loan, while Rs 46,800 crore was disbursed towards new working capital loans. The new term loan and working capital loan was 60% of the disbursement. Credit to NBFCs during October was Rs. 19,627 crore, according to the department of financial

services

.

Loans (1)

PSBs conducted customer outreach programmes in collaboration with other banks and NBFCs in 226 districts in Phase I and 148 districts in Phase II. The PSU banks actively reached out to their customers in these camps and made concerted efforts towards activities such as sanctioning of loans according to prudential norms, opening of accounts along with Aadhaar and mobile seeding of accounts, and popularising the BHIM app. The drive also simultaneously galvanised similar outreach efforts in individual branches of PSBs, that is, outside the camps.

FM

Nirmala Sitharaman

had announced PSB banks’ outreach programme in September as part of the government’s strategy to raise lending and boost demand in the run-up to the festival season. She had urged PSU banks to collaborate with other banks and NBFCs to raise lending to those opting for various loans within the norms laid out for lending. FM had also told the banks to ensure that they get new customers as part of the outreach programmes which was monitored by officials.

On Saturday, in an interview to TOI, Sitharaman had pointed to the large demand for loans as an indicator of revival in consumer demand. Finance ministry officials said that data also suggested that there was sufficient liquidity in the system.

The RBI has cut interest rates five consecutive times to boost growth but banks have been slow in passing the benefits of rate cuts to customers. The outreach programme was meant to raise the lending by fanning out across 400 districts of the country. The government has unveiled a raft of measures to boost demand and growth after data showed that the economy has slowed to six-year low of 5%.

more from times of india Business