Banks lend Rs 63,574 crore to 1.38 mn borrowers via outreach programme

Both public and private banks have extended credit through 10,580 camps under the programme. Loans are over and above those under various central government loan guarantee schemes

Banks have sanctioned credit worth Rs 63,574 crore to 1.38 million borrowers through the credit outreach programme between October 16-31. The Credit outreach programme has been organised to improve credit access during the festive season, as the economy recovers from the impact of Covid-19.

Both public and private sector lenders have extended credit through 10,580 camps under the nationwide credit outreach programme. These loans are over and above those sanctioned and disbursed under various central government loan guarantee schemes such as the Emergency Credit Line Guarantee Scheme.

India’s largest lender State Bank of India (SBI) sanctioned loans to 320,000 borrowers