Easy credit can boost demand and MSME can use cheap loans to service the demand but everything substantially depends on consumer sentiment.
The credit outreach in every district of the country is expected to begin again in October 2021, Sitharaman informed.
Finance Minsiter Nirmala Sitharaman said banks should work with all state governments to push the one district, one product’ agenda.
EASE 4.0: Debashish Panda, secretary, DoFS, said contribution for employee pensions under NPS hiked to 14% from 10% earlier
The government is looking to strengthen corporate governance and human resource practices of public sector banks.
The meeting with MD and CEOs of PSBs assumes significance given the importance of the banking sector in generating demand and boosting consumption
The meeting is aimed to assess the progress made by the banks to support the economy battered by the Covid-19 pandemic.
For 12 months tenure, public sector banks are offering interest rate between 4.8% and 5.2%. The nation's largest lender SBI offers a rate of only 4.4
Non-performing assets of banks have declined by Rs 61,180 crore to Rs 8.34 lakh crore at the end of March 31, 2021
The bank may not be able to provide same-day doorstep banking services, especially if the requests are raised after banking hours.