The last month disbursal of loans by Public Sector Banks is Rs. 2.39 lakh crores which was intended to boost the credit availability in the economy as per Government Statement.
- After the announcement of outreach of program by Government, this figure in the last two months is now Rs. 4.91 lakh crore.
- Also, the programme announced in September was meant to improve the credit delivery with a particular focus on MSMEs, NBFCs, Corporates, Retail and Agricultural sector borrowers, without compromising prudential lending.
- Also the program was a part of Finance Minister’s announcement in order to boost the falling conomic growth which had slowed down to 5% in the first quarter of the fiscal and has since fallen further to 4.5% in the September Quarter.
- Loans to Corporates accounted for Rs. 97,366 crore or say 40.7% of the total disbursements by the PSU Banks in November. NBFCs (Non Banking Finance Companies) borrowed Rs. 25,525 crore or say 10.67% of the November Credit pie.
- The PSBs had disbursed Rs.19,268 crore to NBFCs in the previous month. The total credit disbursed to NBFCs was Rs. 45,153 crore in the two months period according to reports.
- Also the PSBs have lent Rs. 4.23 lak crore to NBFCs which includes pooled assets buyouts of Rs.1.24 lakh crore, since defaults by Infrastructure Leasing and Financial Services (IL&FS) triggered a liquidity crunch in the month of September 2018.
- Also Agriculture loans accounted for Rs. 37,775 crore. The total credit disbursed to the farm sector stood at Rs. 78,374 crore and to MSMEs was Rs. 72,985 crore.
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