Finance Minister Nirmala Sitharaman on Saturday urged Regional Rural Banks (RRBs) to increase credit disbursement for MSMEs under various flagship government schemes such as MUDRA, PM Vishwakarma, etc, with the active support of their sponsor banks.
In a meeting to review the performance of 10 RRBs of the southern region here, FM Sitharaman directed RRBs to increase their share in ground-level agriculture credit disbursement with special focus on allied agriculture activities like dairy, animal husbandry, fisheries etc, and to take necessary steps to realise the full potential of allied agriculture activities in the region.
RRBs and sponsor banks were specially directed by the Finance Minister to work with respective state government departments to increase credit disbursement to fisheries sector in Kerala and the dairying sector in Telangana.
Union Minister of State for Finance, Pankaj Chaudhary, also urged banks to give maximum thrust to achievement under financial inclusion schemes.
The meeting focused on business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry.
The Finance Minister acknowledged RRBs for the demonstrable improvement in their financial performance and technology upgradation ever since regular review was initiated in 2022.
During the review, the importance of enhancing the Current Account Savings Account (CASA) deposits was underlined, reinforcing the need for RRBs in the southern region to mobilise CASA deposits to further accelerate the pace of sustainable credit growth.
FM Sitharaman also noted the significant role played by RRBs in financial inclusion in southern region, and urged them to continue their efforts towards saturation under financial inclusion schemes of Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), etc. by achieving respective targets.
Specific emphasis was placed on reinforcing credit support to MSMEs and streamlining customer onboarding processes through digital innovations.
SIDBI and RRBs were directed by the Union Minister to collaborate on digital platforms, exploring co-lending/risk sharing models and refinance for MSME portfolio.
FM Sitharaman also stated that all RRBs should devise a strategy for MSME credit with customised products aligning with cluster activities and conduct special outreach programmes with convergence and awareness regarding the various schemes.
Civil Aviation Ministry issues strict instructions to DGCA to enforce chopper safety
In the wake of a tragic helicopter crash in the Gaurikund area of Uttarakhand, the Ministry of Civil Aviation on Sunday issued strict instructions to the Directorate General of Civil Aviation (DGCA) to enforce all safety protocols related to chopper operations in hilly and sensitive areas like the Kedarnath valley.
‘Harming Indians will invite punishment’, HM Shah on Op Sindoor
Union Home Minister Amit Shah said on Sunday that through the anti-terror Operation Sindoor, Prime Minister Narendra Modi has sent a strong message across the world that the bloodshed of Indians will invite punishment.
Dassault CEO trashes Pakistan's claims on downing Rafale jets
Dassault Aviation Chairman and CEO Eric Trappier has dismissed as "factually incorrect" Pakistan’s claims about having shot down three Rafale fighter jets of the Indian Air Force during Operation Sindoor.
Tripura BJP stages protest over vandalism at Tagore's ancestral home in B'desh
Ruling BJP in Tripura on Saturday staged state-wide protests along the Bangladesh border, protesting the recent attack and vandalism of the ancestral home of Nobel laureate Rabindranath Tagore in the neighbouring country.
Two new earthworm species unearthed in Tripura
In a major breakthrough for ecological science in Northeast India, two new species of earthworms—Kanchuria tripuraensis and Kanchuria priyasankari—have been formally identified in Tripura.
CM calls for mass awareness on voluntary blood donation
Chief Minister Prof. Dr. Manik Saha today urged to create massive awareness campaigns about the benefits of voluntary blood donation to encourage more people to donate blood.
Tripura has begun experimental soilless hydroponic farming: Minister
The Tripura government has experimentally started the hydroponics method of cultivation without any soil, the state’s agriculture minister Ratan Lal Nath said here on Friday.
Assam Rifles seized cannabis worth Rs 30 lakh from Tripura
In a swift and decisive operation against narcotics smuggling, Assam Rifles, in close coordination with representatives of the Directorate of Revenue Intelligence (DRI), successfully seized approximately 195 kg of marijuana from the general area of Taranagar, Agartala during the early hours of 12 June.