INSUBCONTINENT EXCLUSIVE:
Finance Minister Nirmala Sitharaman said that the bank merger process was "going smoothly"
Finance
Minister Nirmala Sitharaman said on Monday that there is sufficient liquidity in the banking system
Addressing the media after a meeting with chiefs of public sector banks, the Finance Minister said banks have been asked to provide a bill
discounting facility to the micro, small and medium enterprises (MSME) sector against dues from large corporates, in order to ensure
liquidity for small businesses
Efforts are being made to ensure that dues are released to the MSME sector by large corporates, Ms Sitharaman said
Here are 10 things to know:All efforts would be made to ensure that the MSME sector gets its dues ahead of Diwali, the
Finance Minister said.According to the returns filed by large corporates to the Corporate Affairs Ministry, there are dues worth Rs 40,000
crore to the MSME sector, she said.Talks between the Finance Ministry and the state-run lenders come at a time the government has announced
a slew of measures to revive economic growth.The finance minister said on Monday that the the bank merger process was "going smoothly".In
August, the government announced a mega consolidation plan in a bid to strengthen the financial system and push economic growth.The four
June, marking the lowest pace of growth in more than six years.The Finance Minister has earlier said that GDP growth is likely to pick up in
the October-March period as consumer demand is expected to improve in the festival season.Meanwhile, the Finance Ministry said that loans
worth Rs 81,781 crore were disbursed during the nine-day outreach programme organised by banks.Get Breaking news, live coverage, and Latest
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