24 May, 2020
5 Min Read
Give loan to eligible borrowers without fear of CBI, CVC and CAG
Part of: GS-III- financial assistance (PT-MAINS-PERSONALITY TEST)
Banks should not be scared to extend loans as 100% guarantee is being given by govt, Nirmala Sitharaman told CEOs and MDs of public sector banks. Finance Minister said banks have been asked to extend loans automatically to eligible borrowers without fear of 3Cs -- CBI, CVC and CAG.
When asked about criticism about leaving many critical sectors including hospitality, auto and civil aviation in the economic package, Sitharaman said the government has not taken a sectoral approach but a holistic approach. "Except agriculture and the power sectors where reforms would be undertaken, other than that I have not come up with any sectoral reference. What has now become to be called as MSME package, it includes MSME, and also aims at touching others (sectors) too so the sectors that you are referring to can also benefit through this,"
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