Public sector banks (PSBs) have disbursed loans worth ₹2.39 lakh crore during the outreach programme in November, taking total disbursals during the two months of the programme (October and November 2019) to ₹4.91 lakh crore, the government said on Tuesday.
“The strong outreach effort of PSBs has continued in November as well, with disbursement of ₹2.39 lakh crore to MSMEs, NBFCs, corporates, retail and agriculture sector borrowers,” a statement said.
In October, PSBs had disbursed ₹2.52 lakh crore worth of loans. The largest beneficiary of the loans disbursed continues to be the corporate sector, which received loans worth ₹97,366 crore in November, taking the total to ₹2,20,151 crore. The MSME sector has also been a major beneficiary, receiving ₹35,775 crore worth of loans in November, with a total of ₹72,985 crore over the two months. Farmers were also big beneficiaries of the programme, receiving ₹37,870 crore worth of loans in November, and a total of ₹78,374 crore over October and November.
NBFCs received ₹25,005 crore worth of loans from public sector banks in November, and a total of ₹42,168 crore over the two months. “PSBs, being adequately capitalised and [with] record recovery underway, have sufficient liquidity to support credit growth,” the release added.
