Closely monitoring banks and their extension of credit facility to rural areas: Sitharaman

Mumbai: Union Finance Minister Nirmala Sitharaman on Saturday said the government is closely monitoring banks and their extension of credit facility, particularly to the rural areas.

“Credit limit has been expanded. We expect the demand to grow and the credit requirements to meet up with it. I am closely monitoring banks and their extension of credit facility, particularly to the rural areas,” she said while addressing a press conference at the Reserve Bank of India (RBI) office in New Delhi.

The Central government has set a target of making available agricultural credit of up to Rs 15 lakh crore in the financial year 2020-21.

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“Non-banking finance companies and cooperatives are active in the agriculture credit space. The National Bank for Agriculture and Rural Development refinance scheme will be expanded,” the Finance Minister had stated in her Union Budget speech.

“Agriculture credit availability target for the year 2020-21 has been set at Rs 15 lakh crore,” she had said.

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