Over Rs 81,700 crore disbursed by banks during 9-day loan mela: Finance Ministry
New Delhi: The Finance Ministry on Monday said loans worth Rs 81,781 crore were disbursed during the nine-day outreach programme or loan mela organised by banks that began on October 1.
Finance Secretary Rajeev Kumar said "Rs 81,781 crore was disbursed in the outreach programme. Of these, new loans accounted for Rs 34,342 crore."
Further, Finance Minister Nirmala Sitharaman said the banks have sufficient liquidity, and efforts are being made to ensure that due payments are released to the micro, small and medium enterprises (MSME) sector by large corporates.
In order to ensure liquidity for small businesses, Sitharaman said that banks have been asked to provide bill discounting facility to the MSME sector against payments due from the large corporates.
According to returns filed by the large corporates to the Ministry of Corporate Affairs, as much as Rs 40,000 crore is due to the MSME sector, she said adding that all efforts would be made to ensure that MSMEs get their dues ahead of Diwali.
India celebrates the festival of light on October 27.
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Counterfeit notes worth Rs 2.38 lakh seized in Bantwal, two arrested
Mangaluru: Punjalakatte Police have busted a fake currency racket near Pandavarakallu in Badagakajekkaru village of Bantwal taluk, arresting two persons and seizing counterfeit notes and other materials worth about Rs 7.96 lakh, Deccan Herald reported.
According to police, Sub-Inspector Rajesh K.V. received credible information on May 1 that two persons were allegedly transporting and storing counterfeit currency in a car at Koominadka near Pandavarakallu with the intention of circulating it for financial gain.
Acting on the tip-off, the police team raided the location and detained Mohammed Sameer (28) and Mohammed Irfan (26). Another accused, Rasheed Kundadka, managed to escape from the spot.
Police seized five bundles of counterfeit Rs 500 notes with a total face value of Rs 2.38 lakh. They also confiscated three mobile phones worth Rs 57,000 and the car allegedly used in the crime, valued at around Rs 5 lakh.
The total value of the seized items is estimated at Rs 7.96 lakh.
