NEW DELHI: Banks have sanctioned loans worth Rs 63,574 crore to about 13.84 lakh borrowers under the credit outreach programme, Finance Minister Nirmala Sitharaman said on Tuesday. “‘The loans under the Credit Outreach Programme are over and above those sanctioned and disbursed under the various central government loan guarantee schemes,” FM said in a tweet posted on Tuesday.
Started by October 15, banks have been holding special camps across various parts of the country to sanction loans to eligible borrowers as per the prudential norms. So far both public and private sector lenders have extended credit through 10,580 camps under the nationwide credit outreach programme
As per the data shared by the finance ministry, as much as Rs 21,687.23 crore in business loans were sanctioned to about 3.2 lakh beneficiaries, while vehicle loans worth Rs 4,560,39 crore were sanctioned to 59,090 borrowers.
Housing loans worth Rs 8,994.25 crore were sanctioned to 41,226 borrowers as of October 30, 2021, it said. Over 7 lakh farmers availed Rs 16,734.62 crore agriculture loan in the last fortnight under the initiative. State Bank of India (SBI) sanctioned loans worth Rs 14,461 crore to 320,000 borrowers.
This was followed by HDFC Bank that sanctioned loans of Rs 8,421 crore to 51,806 borrowers, and Bank of Baroda sanctioning Rs 5,555 crore worth loans to 120,000 borrowers. Regional rural banks extended credit worth Rs 5,399 crore to 260,000 borrowers.