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