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.

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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.

 

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.

 

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.

 

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.

 

 

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.