Public Sector Banks Are Given Additional MSME Targets for FY 2024-25

Public Sector Banks MSME Target has been revised – In a Bid to boost MSME Sector, the FM Finance minister Nirmala Sitharaman on Saturday increased the lending target for public sector banks in lending to micro, small and medium enterprises (MSME) the current financial year by nearly 35%.

I want to set a new target… I want to add Rs 1.5 crore lakh crore and bring your overall target to Rs 5.7 lakh crore so that credit reaches MSMEs this year itself,” she said at an event with bankers and MSMEs in Bengaluru.

She also introduced a new sub category under Mudra Scheme i.e. “TARUN PLUS”, loan up to 20 lakhs to the Mudra Loan borrowers. Check out for more banking news

Whether MSME Borrowers would get the benefits of this new enhanced scheme or not but the NPA level of the banks would certainly increased in the near future.