Credit Outreach Programme

Subject – Economy

Context – Loan outreach: PSBs sanction ‘11,168 cr to 1.93 lakh accounts’

Concept –

Banks have sanctioned loans worth Rs 11,168 crore to about 1.93 lakh accounts under the credit outreach programme, Finance Minister Nirmala Sitharaman said.
Banks are holding special camps across the country to sanction loans to eligible borrowers ahead of the festival season.
The loans under the credit outreach programme are over and above those sanctioned and disbursed under the various central government loan guarantee schemes.
The government had earlier this month urged public sector banks (PSBs) to start a nationwide credit outreach programme to take advantage of the potential loan demand during the festival season ahead of Diwali.
Banks will go about to exhibit loan offerings in every district of the country in a bid to enhance the credit demand.