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14/10/2019 03:54pm

Efforts are being made to release payments due to MSMEs before Diwali: Sitharaman

image Efforts are being made to release payments due to MSMEs befor Diwali: Sitharaman

New Delhi, Oct 14 (KNN) Union Finance Minister Nirmala Sitharaman on Monday said efforts are being made to ensure that due payments are released to the Micro, Small and Medium Enterprises (MSMEs) sector by large corporates.

Addressing media after a meeting with chiefs of Public Sector Banks (PSBs), the Minister also said that all efforts would be made to ensure that MSMEs get their dues ahead of Diwali.

As per the returns filed by the large corporates to the Ministry of Corporate Affairs, Rs. 40,000 crore is due to the MSME sector, she said.

''Loans worth Rs. 81,781 crore were disbursed during the nine-day outreach programme or loan camps organised by banks that began on October 1,'' said the Finance Ministry. 

"Rs 81,781 crore was disbursed in the outreach programme. Of these, new loans accounted for Rs 34,342 crore, ‘Finance secretary Rajeev Kumar said.

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