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Loan 'melas' are back: PSBs to hold credit meets in 400 districts, says FM

Stressed MSME assets will not be labelled NPAs till March 31, 2020

Finance Minister Nirmala Sitharaman with Finance Secretary Rajiv Kumar  at a review meeting with heads of public sector banks in New Delhi 	photo:pti
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Finance Minister Nirmala Sitharaman with Finance Secretary Rajiv Kumar at a review meeting with heads of public sector banks in New Delhi | Photo: PTI

Somesh Jha New Delhi
Public-sector banks (PSBs) will hold public meetings with borrowers for distributing loans in 400 districts of the country to boost demand ahead of the festive season, Union Finance Minister Nirmala Sitharaman announced on Thursday.

In this, the banks will take help from non-banking financial companies (NBFCs).

The National Democratic Alliance (NDA) government will be following the footsteps of its predecessor, the United Progressive Alliance (UPA) government, which had introduced the concept of “loan mela” to boost credit by directing banks to lend to people through public meetings. 

Further, the government has told PSBs not to declare stressed assets of micro, small and medium

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