Swachh Bharat: Modi govt forms committee to ease credit flow to water and sanitation sector

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New Delhi | Updated: February 19, 2019 12:57:40 PM

The panel led by PNB managing director Sunil Mehta will examine ways to reduce interest rates on loans to household and MSMEs in the sector and also enhance collaboration between banks and state machinery at state and district level.

 

swachh bharat, sanitation, water, pnb, punjab national bank, rural sanitation, Loans worth Rs 1,800 crore were extended to households in 17 states for sanitation and water between 2013 and 2017.

The government has set up an 11-member panel under Punjab National Bank (PNB) managing director Sunil Mehta to improve credit flow to the water and sanitation sector, sources said. The panel will also “examine ways to reduce interest rates on loans to household and MSMEs” in the sector and also enhance collaboration between banks and state machinery at state and district level. The panel will meet on Tuesday.

United Bank of India managing director Ashok Kumar Pradhan, Indian Banks’ Association convener VG Kannan, State Bank of India executive director PK Gupta and Bank of Baroda executive director SL Jain, among others, are part of this committee. Loans for water and sanitation are among the key issues under the government’s Swachh Bharat Mission.

According to official data, loans worth close to Rs 1,800 crore were extended to households in 17 states for sanitation and water between 2013 and 2017. These loans have been made directly by banks or with the help of last-mile partners, including micro finance institutions and self-help groups.

 

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