Finance Minister Nirmala Sitharaman on Tuesday said the public sector banks (PSB) sanctioned Rs 5.95 crore in just over two months, between March 1 and May 8, to over 46.74 lakh accounts. The borrowers for the sanctioned loans include MSMEs, retailers, farmers and corporate sectors.
She had earlier said that higher bank sanctions is indicative that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic.
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