Banks to hold public meetings with NBFCs in 400 districts: Sitharaman

To increase credit disbursement across the country ahead of the festive season, Finance Minister Nirmala Sitharaman has directed scheduled commercial banks and non-bank financial companies (NBFCs) to reach out to new customers in 400 districts in two tranches from now and 15 October. Addressing a press conference after meeting the heads of commercial banks, Sitharaman said in the first instance, the programme will be run in 200 districts from now and 29 September where banks and NBFCs will be available to disburse credit to retail customers, farmers, Micro, Small & Medium Enterprises (MSMEs). In the next phase, another 200 districts will be targeted between 10-15 October.