FM Opens the Liquidity Tap for Bharat
The Hindu Business Line|September 20, 2019
Asks banks, NBFCs to organise meetings in districts to reach credit to the needy
FM Opens the Liquidity Tap for Bharat

Ahead of the festival season, Finance Minister Nirmala Sitharaman on Thursday opened the liquidity tap, dir­ecting banks and NBFCs to jointly hold public forums for distribution of loans to the credit­-needy segments of the society.

The effort is to push liquidity to those who are struggling to access funds while at the same time ensuring that the current regulations are complied with. Under the new mechanism, which will cover 400 districts in two phases, banks and NBFCs operating in the dis­tricts concerned will meet credit seekers at a common forum (shamiana­like meet­ ings) for addressing their li­quidity needs. Minister of State for Finance Anurag Thakur will oversee this project.

This story is from the September 20, 2019 edition of The Hindu Business Line.

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This story is from the September 20, 2019 edition of The Hindu Business Line.

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