Customer Outreach Initiative Conducted by PSBs, Rs 2.53 lakh cr. loans disbursed in Oct. 2019

Speed Post News Network

New Delhi : As per the Union Finance Minister’s directive to Public Sector Banks (PSBs) in September, 2019, Customer Outreach Programmes were conducted by PSBs with participation of other banks and NBFCs in 226 districts from October 1, 2019 to October 9, 2019 in Phase – I and in 148 districts from October 21, 2019, to October 25,.2019, in Phase – II.

The PSBs actively reached out to their customers at these camps and made concerted efforts towards activities such as sanctioning of loans as per norms, opening of accounts along with Aadhar and mobile seeding of accounts, and popularising BHIM app. The drive also simultaneously galvanised similar outreach efforts in individual branches of PSBs i.e. outside the camps.

The Highlights of the  initiative are : Total Disbursements during the month of October 2019 was Rs. 2,52,589 crore including at camps and all branches; An amount of Rs. 1,05,599 crore was disbursed towards New Term Loan; An amount of Rs 46,800 crore was disbursed towards New Working Capital loans; Total New Term Loan + New Working Capital (Rs 1,05,599 crore + Rs 46,800 crore) was 60% of total disbursement; Credit to NBFCs during the month of October 2019 was Rs. 19,627.26 crore, according to a PIB release.