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Loans worth disbursed in October
Why is it in the news?
- As per the official data, Public sector banks (PSBs) and non-banking financial companies (NBFCs) disbursed a total of Rs. 2.52 lakh crore worth of loans.
- The amount was given out in two tranches during the outreach programmes in October 2019.
More in the news
- The new term loans and the new working capital loans accounted for 60% of the total disbursement.
- Sector wise Loan amount (in crore):
- Credit to NBFCs:
(1) Public sector banks gave credit worth ₹19,627.26 crore to NBFCs during October 2019.
(2) The credit to the NBFCs includes ₹1,453.13 crore for the buyout of their pooled assets by the banks.
(3) Finance Minister had, in the Budget speech, announced a partial credit guarantee scheme for the banks to encourage them to purchase high-rated pooled assets of financially sound NBFCs.
Source
The Hindu.