Credit Outreach Programme: Banks extend Rs 11,168 crore loans during festive season - Check details here

As part of the central government's nationwide Credit Outreach Programme that commenced on October 16, 2021, all PSBs and private banks have sanctioned more than 1.93 lakh loans totaling Rs 11,168 crore, Finance Minister Nirmala Sitharaman's Office informed on Tuesday.

As per the information the loans have been sanctioned through 924 camps held in 405 districts over 3 working days (16 to 20 October).

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"As part of the Govt's nationwide Credit Outreach Programme that commenced on 16 Oct 2021, all PSBs and private banks have sanctioned more than 1.93 lakh loans totaling Rs 11,168 crore through 924 camps held in 405 districts over 3 working days (16-20 Oct)," NSitharamanOffice tweeted.

As part of the Govt's nationwide Credit Outreach Programme that commenced on 16 Oct 2021, all PSBs and private banks have sanctioned more than 1.93 lakh loans totaling Rs 11,168 crore through 924 camps held in 405 districts over 3 working days (16-20 Oct).

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— NSitharamanOffice (@nsitharamanoffc) October 26, 2021

During her review of public sector banks (PSBs) in August, the Finance Minister had exhorted banks to conduct Credit Outreach Programme in the month of October in order to support revival of economic growth.

During her review of PSBs in Aug, Smt @nsitharaman had exhorted banks to conduct Credit Outreach Programme in Oct to support revival of economic growth. In line with this, banks have been holding district-wise & sector-wise loan outreach programmes.
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— NSitharamanOffice (@nsitharamanoffc) October 26, 2021

In line with this, banks have been holding district-wise and sector-wise loan outreach programmes.

"The loans under the Credit Outreach Programme are over and above those sanctioned and disbursed under the various Central Govt loan guarantee schemes. This is the break-up of the loans sanctioned during the Programme as of Oct 20," NSitharamanOffice tweeted.

The loans under the Credit Outreach Programme are over and above those sanctioned and disbursed under the various Central Govt loan guarantee schemes. This is the break-up of the loans sanctioned during the Programme as of Oct 20:

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— NSitharamanOffice (@nsitharamanoffc) October 26, 2021

As per the information, this Credit Outreach Programme, through co-lending arrangements between banks and NBFCs and the fintech sector, will extend loans at affordable interest rates to smaller borrowers this festive season.

This Credit Outreach Programme, through co-lending arrangements between banks and NBFCs and the fintech sector, will extend loans at affordable interest rates to smaller borrowers this festive season.

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— NSitharamanOffice (@nsitharamanoffc) October 26, 2021

Glimpses from the Loan Outreach Programmes being held in Hoshiarpur - Punjab, Warangal - Telangana, Nalanda - Bihar, and Dantewada - Chhattisgarh. The Programme is being organised across the country through bank branches and special camps. pic.twitter.com/pFN3CxEDWV

— NSitharamanOffice (@nsitharamanoffc) October 26, 2021

The Finance Minister's Office also shared glimpses from the Loan Outreach Programmes being held in Hoshiarpur - Punjab, Warangal - Telangana, Nalanda - Bihar, and Dantewada - Chhattisgarh.