Govt asks public sector banks to prioritise expanding retail and MSME advances

New Delhi, Sept 2 (KNN) The central government has asked the heads of public sector banks (PSBs) to focus on increasing its loan share in the retail and MSME segment.

PSBs are also leveraging digitisation to improve their retail and MSME advances, reported The Hindu Business Line (HBL).

The Finance Ministry wants PSBs to regain market share in credit they lost to private sector banks (PVBs) amid a pick-up in credit in the banking system.

Over the last 10 years state-owned banks have been losing market share to Nifty PVBs.

PSBs will be focussing on pre-approved product offerings for retail customers and cash-flow based underwritten offers to MSME customers.  (KNN Bureau)