Banks to hold open meetings with NBFCs in 400 districts for lending: Sitharaman
New Delhi. Finance Minister Nirmala Sitharaman said on Thursday that banks will hold meetings in 400 districts with NBFCs and retail borrowers. These meetings will start next week. The aim is to make loans accessible to homeowners and loan seekers including farmers. Sitharaman said that these meetings will be openly in two phases.
The first meeting will be held on Tuesday 24 September to 29 September in 200 districts. After that, similar meetings will be held in 200 other districts from October 10 to October 15. He said that the idea behind this is to ensure maximum loan during festivals. Diwali is in October and is considered the best time to shop in the country. Loans will be provided for retail, agriculture and MSME (micro, small and medium enterprises) and housing and other sectors during open meetings. The minister said that banks have been asked not to declare any MSME loans under pressure until March 31, 2020.
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