Banks need to handhold MSMEs to push job creation: Rajiv Kumar

Banks need to handhold the micro, small and medium enterprises (MSME) sector and help it grow as the entities form the backbone of the economic activity and generate a number of jobs, said Financial Services Secretary Rajiv Kumar.

The government's decision to provide Rs 2.11 lakh crore capital support through various means, including Rs 1.35 lakh crore of recapitalisation bonds, will not only strengthen the balancesheet of the state-owned lenders, but help them support industries and MSMEs, he told

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