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FM asks regional rural banks to ensure credit to small, micro enterprises
The Business Guardian
|August 23, 2024
Union Finance Minister Nirmala Sitharaman on Thursday asked Regional rural banks (RRBs) to ensure easy credit to Micro, Small and Medium Enterprises (MSMEs).
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She asked the RRBs to become more customer-friendly and leverage their local connections to further improve performance.
All RRBs have devised customised MSME products aligning with cluster activities. However, they need to regularly review their credit portfolio in that segment, she said.
The Finance Minister chaired a meeting to review the performance of nine Regional Rural Banks (RRBs) of the states of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Rajasthan, in Udaipur today.
The review meeting focused on business performance, upgrading digital technology services, fostering business growth in MSME clusters, and deepening financial inclusion in rural areas.
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