Quick Summary
Union Finance Minister Nirmala Sitharaman has called on rural banks to scale up credit disbursement to meet the growing demands of the agriculture and allied sectors, according to a Finance Ministry statement issued on Friday. Chairing a meeting at Karnataka Grameena Bank (KaGB) in Ballari, the Finance Minister reviewed key performance indicators including credit growth, non-performing assets (NPAs), financial inclusion achievements, and implementation of government-sponsored schemes. FM Sitha
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FAQ :
The Finance Minister has directed rural banks to scale up credit disbursement to meet the growing demands of the agriculture and allied sectors.
Rural banks should focus on increasing credit flow to Micro, Small, and Medium Enterprises (MSMEs) and allied agriculture activities.
The rationalisation of GST rates has boosted consumption in rural areas, creating opportunities for rural banks to expand their funding in semi-urban and rural regions.
The Finance Minister advised rural banks to fulfil the working capital needs of FPOs and upgrade their products and services to meet FPO requirements for mutual benefit and sustainable rural growth.
KaGB was urged to improve business operations, profitability, address challenges from stressed assets, expand its branch network in Kalyan Karnataka, adopt modern technology, enhance asset quality, and strengthen customer service.
Rural banks are advised to focus on emerging markets in tier-2 and tier-3 cities where companies are relocating services, to strengthen their financial health.
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