This comes when the government wants to push forward its flagship schemes such as Mudra Yojana and start up stand up india Creating employment through entrepreneurship. Banks are now expected to hold open house talks and share their feedback with the government.
“These suggestions were made in an interaction during review of the progress of banks and benefits accruing to customers through EASE.Enhanced reach and service excellenceImprovements in the last four years,” said an official familiar with the matter, adding that banks were told that they should understand the needs and expectations of such customers.
This year’s EASENext reforms for state-run lenders will focus on digital lending, integrated and inclusive banking, with an emphasis on supporting small businesses and agriculture.
“It was further suggested that for reality check, banks should conduct a third party survey based on the customer-centric initiatives undertaken so far under EASE by involving a market research agency or a reputed institution,” the official said. should do.”
Earlier this month, the Minister of State for Finance Bhagwat Karadi in answer to a question in Rajya Sabha The said lenders have so far disbursed more than 76.6 million loans amounting to ₹6.12 lakh crore to new entrepreneurs/accounts under the Mudra scheme. “Approximately ₹10 lakh crore under 16.67 crore (166.7 million) accounts have been approved Pradhan Mantri Mudra Yojana In the last three financial years,” he had said.
A senior bank official said the government wants banks to put in place a collaborative mechanism to further boost credit growth. “While interest rates may rise due to tighter monetary policy, the government wants credit seekers to have access and face the least hassle to secure funding,” he said. In the last six years, banks have sanctioned over Rs 30,160 crore in over 133,000 accounts under the Stand Up India scheme.
Earlier this year, during PSB Manthan 2022, banks were asked to prepare a three-year roadmap to improve their performance and competitiveness. Banks will focus on both geographic-specific opportunities such as economic corridors and business sector-specific opportunities such as green energy.