New Delhi, Feb 15 : Finance Minister Nirmala Sitharaman said on Saturday that under the current circumstances, the government will achieve the credit target of Rs 15 lakh crore for the agriculture sector in the next financial year.
After her meeting with Reserve Bank of India Board, Ms Sitharaman told reporters, here,’Credit limit has been expanded. We expect the demand to grow and the credit requirements to meet up with it. ‘
‘I am closely monitoring banks & their extension of credit facility, particularly to the rural areas,’ she said.
In the current financial year, a target of Rs 13.5 lakh crore for agricultural credit was set. The government has increased this target to Rs 15 lakh crore in the 2020-21 budget tabled in Parliament on February 1.
When asked about the delay in implementing the Union Cabinet’s decision to merge ten public banks into four large banks, Ms Sitharaman said that no discussion took place in this regard in today’s meeting.
The merger of these banks is likely to take effect from April 1, but a notification in this regard has not been issued so far.
RBI Governor Shaktikanta Das and Minister of State for Finance Anurag Thakur were present at RBI Central Board of Directors’ customary post-budget meeting.
Comments are closed.