Panaji: Union Finance Minister Nirmala Sitharaman on Thursday reviewed the performance of the banks with the top management of public sector bank.
“Finance Minister reviewed at length the implementation of series of measures, following extensive stakeholder consultations, announced since 23.8.2019, including consolidation, to support economic growth,” a press statement said.
At the end of August 2019, overall credit growth in the banking sector stood at 10.1 per cent on a year-on-year basis, which is in parallel with record recoveries and cleaning of bank balance-sheets showing better quality of asset book, it said.
The management informed the Finance Minister that banks loan disbursement to key sector remains robust, with disbursement of Rs 11.83 lakh crore done for MSME sector in FY 2018-19 as against Rs 8.53 lakh crore done in FY 2017-18.
Bank continues to support the housing sector by disbursing Rs. 2.19 lakh crore for home loans in FY 2018-19 as against Rs. 1.81 lakh crore in FY 2017-18.
Proposals of another Rs 33,200 crore under the new scheme are also underway.
