Finance Ministry plans to ask banks to expand lending to boost demand
The Hindu
Even as most of the lenders see an increase in bad loans, Centre is planning to ask PSU banks to reach out to every district to expand lending in order to boost demand in the economy.
Government is planning to ask state-run banks to reach out to every district to expand lending to boost demand in the economy, Finance Minister Nirmala Sitharaman said, a move that comes at a time when most lenders are already seeing an increase in bad loans. A similar exercise was undertaken in 2019-20 when the government ordered state-run banks to hold more than 400 loan fairs to spur growth that had started showing signs of weakness even before COVID-19 hit the country. "There will be a credit outreach even this year in every district of the country," Ms. Sitharaman said in a press conference on Wednesday.
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