“Home loan facility is going to start from October 2021 as Finance Minister Nirmala Sitharaman has said that the government has taken steps to increase the loan. He said that the banks would start a district-wise special campaign from October to help in the loan mela. Such proactive efforts will help the economy gain momentum from the stimulus packages announced by the government during the pandemic. At the end of 2019, banks had organized Loan Melas in 400 districts to increase loans. Presently the rate of credit growth is hovering around 6 per cent. Sitharaman said, ‘I think it is too early to conclude that there is lack of demand. I don’t think it is time to conclude that loans are not being taken. We have taken steps for credit growth without even waiting for the signals. In this episode of the Business tit-bits our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
#LoanMela #NirmalaSitharaman #FinanceMinister
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