Bengaluru: Union Finance Minister Nirmala Sitharaman has urged Regional Rural Banks (RRBs) to amplify credit disbursement to Kerala’s fisheries sector as part of a broader push to strengthen allied agricultural industries in southern India. During a meeting with 10 RRBs from Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Telangana, and Puducherry, Sitharaman emphasized collaboration with state government departments to enhance financial flows to fisheries, dairy, and animal husbandry.
Highlighting Kerala’s untapped potential in fisheries, she stressed that improving credit access in this sector could significantly bolster the state’s economy.
Sitharaman also discussed major initiatives for Micro, Small, and Medium Enterprises (MSMEs), including the Rs 100 crore credit guarantee scheme announced in the Union Budget. She revealed that the proposal would soon be presented to the Union Cabinet.
“This specialized credit guarantee corpus will provide critical support to MSMEs during challenging times, ensuring they can secure working capital and term loans without third-party collateral,” Sitharaman stated. The scheme will be rolled out through the MSME Ministry and public sector banks following Cabinet approval.