FM Sitharaman asks rural banks to ensure credit to MSMEs

Udaipur: Union finance and corporate minister Nirmala Sitharaman reached Udaipur for a two-day trip on Thursday, commencing with a review meeting with regional rural banks in the western and central regions.The meeting aimed to develop an action plan to tackle banking sector challenges, assessing the banks' progress from the previous fiscal year. Sitharaman emphasised the importance of expanding banking access to realise a developed India and urged bank officials to collaborate for the benefit of the public through govt schemes. Later in the day, Sitharaman and MSME minister Jitan Ram Manjhi engaged with MSME units at Udaipur's Marble Bhawan in Sukher Industrial Area, highlighting Mewar's cultural and economic significance. They stressed the need for grassroots engagement in implementing budget announcements, with a special focus on MSMEs. Sitharaman announced plans for interaction programs with 250 MSME clusters nationwide, beginning with the marble cluster in Udaipur to understand industry requirements. The FM lauded SIDBI's initiative to directly provide loans to micro-industries, facilitating easier access to funds. An MoU between SIDBI and Udaipur Marble Association was exchanged in her' presence. TNN

FM Nirmala Sitharaman pushes banks to launch deposit mobilisation drive

Finance Minister Nirmala Sitharaman urged state-run banks to increase deposit mobilisation and conduct special drives to match loan growth. Younger investors are shifting from traditional bank deposits to mutual funds and equities due to better returns. The minister also emphasized enhancing customer relationships and improving cyber security measures in banks.

FM Nirmala Sitharaman to meet PSU Banks, RRBs heads for performance review on August 19

Union finance minister Nirmala Sitharaman convened a vital review meeting to assess the performance of Public Sector Banks and Regional Rural Banks. The discussion covered deposit growth, credit-to-deposit ratio, asset quality, and the effectiveness of government schemes. The meeting aims to align financial institutions with economic goals, ensure stability, and improve contributions to the economy.

Leopard mauls boy to death in Udaipur

A 10-year-old boy in Udaipur was killed by a leopard while going to school with relatives. The attack happened near Dharel Mahadev forest. Villagers demanded compensation, citing a prior leopard attack. Police and forest officials faced challenges in capturing the leopard due to dense forest and lack of proper roads. Postmortem was conducted after negotiations.

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