PSBs to focus on credit needs of 'genuine' companies, says Piyush Goyal

PSBs promise to boost credit; 4,500 companies to be assessed; banks to work on two-stage process

Public sector banks (PSBs), in a meeting with Finance Minister Piyush Goyal on Tuesday, have decided to chalk out a road map for supporting the credit needs of “genuine” companies.
 
The banks would take up the credit needs of “genuine, deserving, well-performing and good companies” in two stages, Goyal said.
 
In the first stage, the PSBs will conduct a focused study on the credit needs of around 4,500 companies, with borrowings in the range of Rs 2 billion to Rs 20 billion. In the second stage, the credit needs of companies with borrowings of up to Rs 2