Bring innovative products for startups, fintech, PM asks banks

New Delhi, February 26

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Prime Minister Narendra Modi on Friday stressed on increasing credit to businesses to meet the needs of a fast reflating economy and said financial products will have to be tailor-made for fintech and startups.

Speaking at a webinar on Budget announcements on Financial Services, Modi said to help small and medium businesses during the Covid pandemic, 90 lakh MSMEs were given credit worth Rs 2.4 trillion.

“Supporting MSME and startups and expanding credit flow to them is necessary. The government has undertaken reforms and opened up sectors like farm, coal and space. Now it’s the responsibility of the financial sector to understand the aspirations of rural and smaller cities and make them the strength of Aatmanirbhar Bharat,” he said. — PTI