There will be a credit outreach this year as well: FM Nirmala Sitharaman

She also said that banks need to come with specific plans for all North-Eastern states that would cater to their Logistics and export needs.

In a press conference on Wednesday, Union Finance Minister Nirmala Sitharaman said that there will be credit outreach in every district of the country this year. 

“There will be credit outreach efforts by banks in every district of this country to keep the momentum of stimulus,” she said.

She also said that banks need to come with specific plans for all North-Eastern states that would cater to their Logistics and export needs.

During the press conference, Sitharaman also emphasized the need to focus on sunrise sectors. “Banks need to understand the special requirements of Sunrise sector. e.g. Fintech, one such sector can provide technological help to banks as well as can benefit from help from the banking sector, ” Sitharaman said.

The press conference was held after a detailed meeting with public sector banks. “Collectively all banks are performing well, they have come out of Prompt Corrective Action. They are showing clear profits and 2 of them have done very well.” She said. 

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