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Strong Customer Outreach by Public Sector Banks (PSBs) — ₹ 4.91 lakh crore disbursed in October and November 2019

December 3, 2019
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Strong Customer Outreach by Public Sector Banks (PSBs) - ₹ 4.91 lakh crore disbursed in October and November 2019

Strong Customer Outreach by Public Sector Banks (PSBs) continues - ₹ 2.39 lakh crore disbursed in November

Smt. Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs, had announced in September the launch of Customer Outreach Initiative by Public Sector Banks (PSBs) to improve credit delivery and support the needs of the economy, with particular focus on MSMEs, NBFCs, corporates, retail and agriculture sector borrowers, without compromising prudential lending. Customer Outreach in October 2019 resulted in total credit disbursement of ₹ 2.52 lakh crore.

Total Customer Outreach progress in NovemberThe strong outreach effort of PSBs has continued in November as well, with disbursement of  2.39 lakh crore to MSMEs, NBFCs, corporates, retail and agriculture sector borrowers. This has raised the total disbursement by PSBs to these sectors since the launch of the Customer Outreach in October to  4.91 lakh crore.

To boost the MSME sector, out of the total, PSBs have disbursed  35,775 crore in November, raising the total Customer Outreach credit disbursed to MSMEs to  72,985 crore.

For NBFCs, out of the total, PSBs have disbursed ₹ 25,525 crore in November, increasing sharply from ₹ 19,628 crore in October, raising the total Customer Outreach credit disbursed to NBFCs to ₹ 45,153 crore. Total support sanctioned by PSBs in the form of credit to (including co-origination and on-lending) and pool buyouts from NBFCs since the IL&FS default in September 2018 till November 2019 has risen to ₹ 4.23 lakh crore, including pool-buyouts of ₹ 1.24 lakh crore.

PSBS being adequately capitalised and record recovery underway, have sufficient liquidity to support credit growth.

PSB disbursement in Customer Outreach

              Amounts in crore ₹

#

Loan category

October 2019

November 2019

1

MSME loans

37,210

35,775

2

Loans to NBFCs

17,163

25,005

3

Loans to corporates

1,22,785

97,366

4

Home loan

12,166

15,088

5

Vehicle loan

7,085

4,003

6

Education loan

425

686

7

Agricultural loans

40,504

37,870

8

Other loans

15,250

23,454

Total

2,52,589

2,39,245

 

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