PM urges bankers to scale up lending to priority sectors

NEW DELHI: Prime Minister Narendra Modi on Wednesday met heads of top private and public sector banks and non-bank lenders over video conference on Wednesday, asking them to scale up lending across priority sectors such as micro, small and medium enterprises (MSMES) and agriculture, amid a disruption caused by the coronavirus pandemic.

In a meeting that lasted for over three hours, a group of lenders presented their wish list to the Prime Minister, in they which they expressed their need to raise capital, fast track digital lending and implement reforms on agriculture and the housing sector, an official said.

“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.