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India's finance minister urges rural banks to expand agricultural and small business lending, improve services, and boost financial inclusion.
Union Finance Minister Nirmala Sitharaman has directed rural banks, including Karnataka Grameena Bank, to boost credit to agriculture, MSMEs, and farmer-producer organizations amid rising demand.
Speaking in Ballari, she emphasized improving credit growth, reducing bad loans, and expanding financial inclusion, urging collaboration with state agencies and adaptation of products to local needs.
She highlighted rural consumption growth from GST rationalization and economic shifts like corporate relocations to tier-2 and tier-3 cities as opportunities.
Sitharaman called for KaGB to expand into underserved areas, strengthen asset quality, adopt technology, and enhance customer service, while also improving implementation of financial inclusion schemes and leveraging partnerships with NABARD and public sector banks.
El ministro de Finanzas de la India insta a los bancos rurales a expandir los préstamos agrícolas y a las pequeñas empresas, mejorar los servicios e impulsar la inclusión financiera.