News:Finance Minister has announced that the public sector banks will be organising loan meals in 400 districts beginning October 3,2019.
About loan melas:
- The loan melas will be organized by the Public sector banks(PSB) in partnership with Non banking financial companies (NBFCs).
- The PSBs will focus on giving loans to the ‘RAM’ category namely the retail, agriculture and Micro Small and Medium enterprises(MSMEs)
- The aim of this initiative is to improve consumption in the economy which is expected to boost the growth in the Indian economy.