PSU banks disburse record Rs 4.9 lakh crore loans during October-November

Public sector banks disbursed a record Rs 4.91 lakh crore of loans during the festive month of October and November, the finance ministry said on Tuesday. In a bid to boost consumption and revive the economy, Finance Minister Nirmala Sitharaman in September had asked banks to reach out to customers and signal their willingness to lend following all prudential norms. Under her direction, outreach camps or loan melas were conducted across 374 districts across the country to improve credit delivery and support the needs of the economy, with particular focus on MSMEs, NBFCs, corporates, retail and agriculture sector borrowers, without compromising prudential lending.

During October, banks disbursed Rs 2.52 lakh crore while Rs 2.39 lakh crore in November. This has raised the total disbursement by public sector banks to various sectors since the launch of the Customer Outreach in October to Rs 4.91 lakh crore, it said.