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SEPTEMBER - 2019
Banks to organize 'Loan Mela' for MSMEs
districts beginning October 3 to provide
loans to MSMEs, NBFCs and retail
borrowers, including homebuyers and
farmers in order to boost liquidity in the
economy.
PSBs will focus on giving loans to the 'RAM'
category -- retail, agriculture and MSMEs.
The idea behind this outreach program is
to ensure maximum credit disbursal
during the festive season.
Following the directions of Finance According to media reports, Banks
Minister Nirmala Sitharaman, Banks have including State Bank of India (SBI),
launched the first phase of 'Loan Mela', an Punjab National Bank (PNB), Bank of
outreach program for providing credit to Baroda (BoB), and Corporation Bank have
Micro, Small and Medium Enterprises geared themselves up to take advantage of
(MSMEs) and retail customers across 250 festival season demand. Later, the private
districts in the country to meet demand sector too expressed their willingness to
during the festival period. join the initiative.
In the month of September, the public This is part of the systematic bank reform
sector banks were directed to organise process which envisioned taking banks to
credit "Shamiana meetings" in 400 doorsteps of customers.
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