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Source: Economic Times

Economic Times
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Banking Sector
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1 min
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03 Sept
Published
Banking Sector
1 min read· Economic Times

Chouhan urges banks to speed up loans for rural women

Union Minister Shivraj Singh Chouhan has asked banks to approve loans faster for rural women entrepreneurs. The government aims to extend ₹10 lakh crore in lending over five years.

Chouhan made the appeal during a meeting with banks, putting quicker access to credit for rural women running businesses on the agenda. The initiative is intended to support women’s empowerment, with lending forming a key part of that effort.

He also instructed officials to strengthen training and set up a helpline for members of Self-Help Groups, or SHGs. These steps were presented alongside the push for faster loan approvals. The report does not specify the training content or when the helpline will become available.

The government’s stated lending ambition is ₹10 lakh crore across a five-year period. However, the report does not identify the banks involved, give individual bank targets or explain how the planned lending would be distributed. It also does not state when that five-year period begins.

For women seeking business credit, the main message is a call for quicker approvals, backed by training and a proposed support channel for SHG members. No specific approval deadline, loan eligibility criteria or interest rate has been stated in the report.

Source: Economic Times