TIL Desk/Business/New Delhi/ Finance Minister Nirmala Sitharaman has said that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic with the public sector banks (PSB) sanctioning loans worth Rs 5.6 lakh crore in just two months, March and April, to over 41 lakh accounts.
In a tweet, the office of Sitharaman said that the borrowers include MSMEs, retailers, farmers and corporate and the amounts would be disbursed once the lockdown is lifted. “During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts.
These borrowers are from MSME, Retail, Agriculture & Corporate sectors, waiting for disbursal soon after #lockdown lifts. Economy poised to recover! @FinMinIndia @DFS_India,” the tweet said. In a series of tweets, her office has outlined the development in terms of loans given by public sector banks and the loan moratorium allowed by the Reserve Bank of India (RBI).
