Don’t Fear 3Cs: Extend loans to all eligible borrowers

Updated: Nov 13

Finance Minister Nirmala Sitaraman Office: Twitter

This Saturday Finance Minister Nirmala Sitharaman said banks to extend loans automatically to eligible borrowers and don’t fear CBI, CVC and CAG.

She said, “Yesterday, I reiterated that by saying, if a decision goes wrong, and if there is a loss, the government has given 100 per cent guarantee now. It is not at all going to be on the individual official and on the bank, and therefore without fear they should take this automatic route in the sense, everybody eligible for additional term loan and additional working capital should be given.”

It is being said that the genuine bonafide decisions in the banking sector are being impacted because of the worry of undue harassment by 3Cs--Central Bureau of Investigation (CBI), Central Vigilance Commission (CVC) and Comptroller and Audit General (CAG).

“Let’s hope liquidity will start to flow from banks from 1st June without any collateral” she expressed.

Read the full article on Financial Express,

Extend loan automatically to all eligible borrowers without fear of 3Cs: FM Sitharaman to banks

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