MoS Finance urges banks to reduce waiting period for loan disbursement

Satara, Apr 25 (KNN) Union Minister of State for Finance Bhagwat Karad on Monday urged banks to reduce the waiting period for loan disbursement.

Speaking at speaking at a review meeting on financial inclusion parameters of Western Maharashtra in Satara, Karad called for increasing bank penetration in rural areas.

“Even a developed state like Maharashtra has scope for increasing the number of bank branches in rural areas. Banks need to work towards achieving this goal,” he said.

Karad pointed out that towards becoming a five trillion economy, the banking sector is a big pillar. “New voters should be incorporated into the banking sector by opening their bank accounts, and special camps should be arranged for the same,” he added.

He further said that with respect to schemes like Svanidhi, Maharashtra has performed better than national average. However, there is scope for performance improvement in the MUDRA Scheme, where Maharashtra is lagging behind the national average.

On this occasion the, Minister also took a performance review of NABARD in Western Maharashtra region.

Member of Parliament, Jaisiddeshwar Shivacharya Mahaswamiji, Member of Parliament Shriniwas Patil, MLA Jaykumar Gore and representatives of various banks were present on the occasion.  (KNN Bureau)