Prime Minister Narendra Modi met heads of top private and public sector banks and non-bank lenders on Wednesday and urged them to scale up lending to micro, small and medium enterprises (MSMEs) and agriculture amid the disruption caused by the coronavirus pandemic.
In a video conference that lasted for over three hours, lenders presented a wish-list to the prime minister, in which they expressed their need to raise capital and fast-track digital lending and the need for the government to implement reforms on agriculture and housing, an official familiar with the development said on the condition of anonymity.
“It was a feedback-taking session with the Prime Minister. He told banks and financial institutions to continue to focus on economic revival. Banks have been assured support from the government,” another official said.
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