India’s Sitharaman Pledges Timely Loans to Entrepreneurs

Nirmala Sitharaman, India’s finance minister, stated the central government is committed to providing timely bank loans to individuals in Andhra Pradesh’s Palnadu district and across the country to support entrepreneurship and business expansion. Speaking at a Credit Outreach Programme in Narasaraopet, Sitharaman noted a transformation in banks’ lending approaches and increased public trust in the banking system.

She and chief minister N Chandrababu Naidu distributed ₹3,216 crore in loans to 1,03,246 beneficiaries. The program, a joint effort by the finance ministry and public sector banks, focuses on expanding access to credit for farmers, women, entrepreneurs, and students, with the government guaranteeing loans where necessary.

Sitharaman emphasized Prime Minister Modi’s vision of bringing banking services directly to people, reducing reliance on private lenders with high interest rates. Naidu announced Andhra Pradesh will receive ₹7,707 crore under the VBG RAMG scheme and ₹40,000 crore to develop the Rayalaseema region as a horticulture hub.