TIWN
New Delhi, Oct 14 (TIWN) NBFCs liquidity requirements and retail lendings as well as poor credit offtake to corporates by public lenders will figure as the main discussion in the Finance Minister Nirmala Sitharaman's meeting with the government owned banks on Monday where she will review their performances in these segments with data.
"PSBs will focus on giving loans to the 'RAM' category -- retail, agriculture and MSMEs," Sitharaman said at a press conference after meeting PSU bank heads. She said the idea is to ensure maximum credit disbursal during the festive season. Grappling with six-year low GDP growth and a 45-year high unemployment rate, the government is looking to boost credit that will bring liquidity for businesses and create jobs. The open house public meetings will be held in two tranches. The first will be held between October 3 and 7 in 200 districts, while the remaining 200 will be covered October 11 onwards. For every existing customer, banks will have to bring in five new customers, the minister said.
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