PSBs sanction Rs 5.66 lakh cr loan during Mar-Apr: FM

Finance Minister Nirmala Sitharaman on Thursday said public sector banks have sanctioned loans worth Rs 5.66 lakh crore during March-April and the disbursement will start soon after the lockdown is lifted, leading to economic recovery.

During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts. These borrowers are from MSME, Retail, Agriculture & Corporate sectors, waiting for disbursal soon after lockdown lifts. Economy poised to recover! Sitharaman said in a tweet.

She further said that state-owned banks implemented the moratorium announced by the RBI on repayment of loans.

"PSBs complemented RBI on loan moratorium. Their effective communication & proactive actions ensured that over 3.2 cr. a/c availed 3-month moratorium. Quick query redressals allayed customer concerns. Ensuring responsible banking amid #lockdown, she tweeted.

Sitharaman also said public sector banks (PSBs) sanctioned loans worth Rs 77,383 crore between March 1 ...