Union Urban Development Minister Venkaiah Naidu has said that the country's poor are bankable and banks should not shy away from extending credit to them.<br/><br/>Addressing a Financial Literacy Camp in New Delhi, the minister said that the repayment of poor including Self Help Groups (SHGs), stands high at around 98-99 per cent.<br/><br/>Mr. Naidu further said that the banks should focus more on poor and open bank accounts for them.<br/><br/>He added that the government has taken up the task of banking the unbanked, funding the unfunded and reaching the unreached.<br/><br/>Talking about the Goods and Services Tax (GST), the minister said the Constitution Amendment Bill is expected to be passed in the upcoming monsoon session of Parliament.
News On AIR | June 23, 2016 8:42 AM
Banks should not shy away from extending credit to Poor: Venkaiah Naidu