Prime minister Modi tells bank chiefs to boost MSME loans

PM urged banks to scale up lending to micro, small and medium enterprises.

   
PM Modi, msme loans

Prime Minister Narendra Modi met heads of top private and public sector banks and non-bank lenders through video conferencing and urged them to scale up lending to micro, small and medium enterprises (MSMEs) and agriculture amid the disruption caused by the Covid-19 pandemic.

Top officials from the finance ministry, including financial services secretary Debashish Panda, heads of State Bank of India, Punjab National Bank and Bank of Baroda, among others, were part of the meeting.

The lenders presented a wish-list to the prime minister, in which they expressed their need to raise capital and fast-track digital lending and the need for the government to implement reforms on agriculture and housing.

As per the official statement from the Prime Minister’s Office the subjects of discussion were credit products and efficient models for delivery, financial empowerment through technology, prudential practices for stability and sustainability of the financial sector.






Trending

Changing landscape of healthcare start-ups amidst COVID-19

A changing landscape of healthcare start-ups amidst pandemic

Insurance For MSMEs Is A Key Ingredient Towards Nurturing The Atma Nirbhar Bharat

Insurance for MSMEs is a key ingredient towards nurturing the Atmanirbhar Bharat

How AI and deep learning are becoming artificial eye for visually impaired people

This Indian startup is giving an artificial vision to visually impaired people using AI and Deep Learning

25 - 20 million MSMEs lost jobs

US restrictions on textile imports from China may augur well for India: ICRA

real estate construction

Weak outlook for builders to affect cement and steel demand: Fitch Ratings

ease of doing business

Promotion of industry and internal trade identifying ease of doing business reforms with states

micro industrialization process

Ministry of MSME re-activates micro industrialization process in rural India

indian export piyush goyal

Piyush Goyal: double digit growth in exports show rapid economic recovery

auto sales

India’s 2020 auto sales to decline by 30%: Moody’s

bamboo plantation

Government launches 22 bamboo clusters in 9 States and new logo for NBM

Arjun-Ranga-Interview

Agarbatti and Dhoop industry praying for festive season to end on a positive note: Arjun Ranga, AIAMA

atal innovation mission and freshworks

Atal Innovation Mission partners with Freshworks to empower AIM startup innovators