Rs 81,700 crore disbursed by state-banks through ‘loan melas’

As much as Rs 81,781 crore has been disbursed by the state-run banks in the nine days of ‘loan mela’ from October 1- 9, according to the statement of the finance secretary. After the finance minister after the finance minister Nirmala Sitharaman met the heads of state-run banks for measures to boost the economy, the secretary addressed the media.

He further stated that an amount of Rs 34,342 crores was disbursed to new entrepreneurs while noting that the banks followed prudential norms while disbursing the loans. As per the statement of Finance Minister Nirmala Sitharaman, 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.

With an aim of ensuring the liquidity for small businesses, Sitharaman said that banks have been asked to provide bill discounting facility to the MSME sector against payments due from the large corporates.