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Karad directs banks to reduce waiting period of loan disbursement
Minister of State for Finance Dr. Bhagwat Karad has told bankers to focus on Banking the unbanked, Securing the unsecured and funding the unfunded.
Speaking at a review meeting on Financial Inclusion Parameters of Western Maharashtra in Satara on 24 Apr 2023, he pointed out that PM Svanidhi scheme gives small loans to needy people without the condition of a collateral.
The Minister called for banking penetration in rural areas, and directed banks to reduce the waiting period for loan disbursement.
He highlighted that even a developed state like Maharashtra has scope for increasing the number of bank branches in rural areas, and added that banks need to work towards that goal.
“In our target towards becoming US$5 trillion economy, banking sector is a big pillar,” and he suggested imbibing a competitive spirit among the banking sector for development of all. fiinews.com
