Finance Minister: Over Rs. 81,700 cr disbursed during 9-day loan mela

The Finance Ministry on Monday said loans worth Rs 81,781 crore were disbursed during the nine-day outreach program or loan Mela organized by banks that began on October 1. Finance Secretary Rajeev Kumar said "Rs 81,781 crore was disbursed in the outreach program. Of these, new loans accounted for Rs 34,342 crore." READ | IYC-NSUI stage protest outside FM Nirmala Sitharaman's house 'Banks have sufficient liquidity' Further, Finance Minister Nirmala Sitharaman said the banks have sufficient liquidity, and efforts are being made to ensure that due payments are released to the micro, small and medium enterprises (MSME) sector by large corporates. In order to ensure liquidity for small businesses, Sitharaman said that banks have been asked to provide bill discounting facilities to the MSME sector against payments due from the large corporates. READ | Nirmala Sitharaman seeks tax experts' inputs to correct GST flaws '40,000 crore due to the MSME sector' According to returns filed by the large corporates to the Ministry of Corporate Affairs, as much as Rs 40,000 crore is due to the MSME sector, she said adding that all efforts would be made to ensure that MSMEs get their dues ahead of Diwali. India celebrates the festival of light on October 27. READ | Sanjay Nirupam slams Finance minister Nirmala Sitharaman amid PMC scam READ | PMC Scam: Wadhawan duo, Waryam sent to police custody till Oct 16

Advertisement

Finance Minister: Over Rs. 81,700 cr disbursed during 9-day loan mela

Finance Ministry said loans worth Rs 81,781 crore were disbursed during the nine-day outreach program or loan Mela organized by banks that began on October 1

Advertisement