Focus on unorganised sector: Jaitley to bankers

Focus on unorganised sector: Jaitley to bankers


New Delhi: Aiming to enhance employment opportunities in the country, Finance Minister Arun Jaitley today asked banks to speed up their focus on the unorganised sector. Speaking at the 36th Foundation Day of NABARD, Mr Jaitley said, "The reality of India is that more people are in the unorganised sector than those in the organised sector. Banks should focus on the unorganised sector and we should try to cover all those who were left uncovered under financial inclusion programmes." The event was also organised to mark the silver jubilee of SHG-Bank Linkage programme. The minister added that in the days to come the Nabard-led initiative of SHG-Bank Linkage Programme would further expand. Over a span of 25 years, the SHG-Bank linkage programme has grown into a massive movement with 85 lakh SHGs across the country now part of this programme. The total loan exposure of the banking system to these self-help groups (SHGs) is about Rs 61,000 crore. In her address, Financial Services Secretary Anjuly Chibb Duggal said the government is now trying to link SHGs with social security schemes.

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