Festival Of Lights And Loans

THE WEEK|October 06, 2019

Festival Of Lights And Loans
Nirmala Sitharaman is clear on her plans for speedy outflow of credit from bank branches in the country to reverse the economic slowdown.
Sachidananda Murthy

She has asked public sector banks to hold open houses in 400 districts and to give loans to five new borrowers for every existing customer. She wants the sextupling of the customer base to be done during the Dussehra-Diwali season. Loans will be given at lightning speed to the poor who are covered under the MUDRA scheme, to those who need housing and vehicle loans, and for small and medium businesses and industries. The local ministers and MPs would be present at these open houses.


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October 06, 2019