Published on 20/09/2019 3:23 | Source: ANI

No stressed asset MSME to be declared NPA till March 31, 2020: FM Sitharaman

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New Delhi

Finance Minister Nirmala Sitharaman on September 19 announced that government will arrange ‘gathering’ to encourage public lending. She said, “In 200 districts of country between now and September 29, there shall be gathering which banks will have of NBFCs with whom they have tied up and given liquidity and retail customers of the bank to encourage customers to come, who want newer credit to be extended. Next 200 districts will have similar gatherings from October 10 -15.” She further added, “We have told the banks that till March 31, 2020 no stressed asset MSME will be declared an NPA. We have also requested that the bank should make an effort to sit with such stressed asset MSMEs and work it out with them to get them out of that situation.”