In boost to MSMEs, FM Nirmala Sitharaman pushes for Rs1.5L cr extra PSB loans in FY25

Quick Summary:

Finance Minister Nirmala Sitharaman raised the lending target for public sector banks to MSMEs by nearly 35% for this financial year.

She set a new target of Rs 5.7 lakh crore, emphasizing that no small business should be denied funding.

Sitharaman urged public sector banks to take the lead in lending to MSMEs, aiming for greater growth in the sector.

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Article Details

Author / Journalist: Supriya Roy

Category: EconomyBusiness

Markets: India

Topics: Sitharaman increase MSME funding target MSME lending in India Public sector banks lending target FY25 Nirmala Sitharaman speech Bengaluru Business news National MSME cluster programme MSME loan growth compared PSBs private banks Banking support for MSMEs during pandemic Credit guarantee scheme for MSMEs Financial assistance for micro small enterprises

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-10 @ 08:23:41 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 717 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23485462

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