The borrowers represented micro, small and medium-sized enterprises (MSMEs), retail, agriculture and business sectors, which were signs of an economic revival, the finance minister said Nirmala SitharamanOffice in a tweet Thursday.
The credit will be paid after shutdown was raised, added the update.
The ministry noted that support for MSMEs was a work in progress PSB loans in the order of Rs 26,500 has been sanctioned in 2.37 lakh cases for MSME.
This was part of the PSB initiative to prioritize pre-approved emergency credit lines and improved working capital requirements for the sector, with banks reaching over 27 lakh such customers from March 20.
NBFCs & HFCs
PSBs also sanctioned loans worth $ 77,383 to non-bank financial corporations (NBFCs) and housing finance corporations (HFCs) between March 1 and May 4, the said update.
including Reserve Bank of India‘S (RBI) targeted Long Term Repo Operations (TLTRO) window, PSB expanded Rs 1.08 lakh crore with funding to ensure business stability and continuity, the ministry said.
The three-month loan moratorium announced by RBI has been used by 3.2 crore PSB accounts, the ministry said, praising the banks for their proactive implementation.
Rapid reuse of inquiries affected customers’ concerns and ensured responsible banking conditions in the middle of closing, the minister’s office said.
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