PSU banks to launch new products in 3-4 months to ramp up credit growth: Banking Secretary

Financial Services Secretary M Nagaraju announced public sector banks will launch new products in the coming months to boost credit growth, particularly for MSMEs. He acknowledged the risk of rising digital fraud while emphasizing the government's commitment to financial inclusion through collaboration with the fintech industry. Nabard Chairman Shaji KV highlighted the need for equitable technological transformation in rural banking.