Step up lending for public infra, MSMEs: FM Sitharaman to banks

PUNE: Finance minister Nirmala Sitharaman on Thursday called upon banks and financial institutions with strong balance sheets to step up lending for public infrastructure, industry and the MSME sector. Addressing the Foundation Day event of Bank of Maharashtra, Sitharaman highlighted the critical role of banks amid growing global uncertainty. "The global environment has become increasingly unpredictable. The extent to which countries are affected depends on their exposure to these shocks and how well-prepared they are." FM said despite the turbulence in the global economy, India showed resilience, supported by strong economic fundamentals and improved sovereign ratings from international agencies. She emphasised that India's robust response to global challenges was not coincidental bu