Finance Minister Nirmala Sitharaman on Thursday said public sector banks will hold meetings with NBFCs and retail borrowers in 400 districts beginning next week to provide credit to borrowers, including homebuyers and farmers.
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Watch Banks to hold public meets with NBFCs in 400 districts to give credit: Nirmala Sitharaman With HD Quality.
Finance Minister Nirmala Sitharaman on Thursday said public sector banks will hold meetings with NBFCs and retail borrowers in 400 districts beginning next week to provide credit to borrowers, including homebuyers and farmers.
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Watch Banks to hold public meets with NBFCs in 400 districts to give credit: Nirmala Sitharaman With HD Quality
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The Finance Minister Nirmala Sitharaman today announced that Non-banking financial companies will be permitted to use the Aadhaar based bank mandated KYC to avoid repeating the process for the customers. The Finance Minister said the following in her press conference
NBFCs to be permitted to use Aadhaar authenticated bank KYC to avoid repeated processes.
Watch NBFCs can use Aadhaar-based bank KYC to give loans: Nirmala Sitharaman With HD Quality
News video | 396 views
The Finance Minister Nirmala Sitharaman in her press conference today announced that public sector banks (PSU) should ensure that 'mandated return' of loan documents within 15 days of the closure of the loans. This move is aimed at helping out borrowers who are unable to apply for various clearances or other permissions despite having paid off their loans because they have not received the loan closure documents.
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Watch PSU banks to give documents within 15 days from closure of loans: FM Nirmala Sitharaman With HD Quality
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Participants at the ET India Dialogues said that NBFCs should not compete with the banks and must turn to knowledge-based growth. Dinanath Dubhashi, CEO, L&T Finance and Nirmal Jain, Chairman, India Infoline (IIFL) were on the panel.
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