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Welcoming the interim budget of the Union Government for 2019-20, Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank Ltd, said the proposal to extend Government e-Marketplace (GeM) to all central public sector enterprises will help MSMEs in the country.
The proposal will have a positive impact in terms of MSME growth and in eradicating corruption, he said.
The proposals such as Pradhan Mantri Kisan Samman Nidhi and the extension of interest subvention on farm loans would go a long way in the development of agrarian economy in the country, he said.
Stating that banks’ cleanup act has started yielding results, he said three public sector banks are already out of PCA (prompt corrective action) framework. “NPAs appear to be have been bottomed out in the system. So we can safely say that the banks’ cleanup act has started yielding results,” he added.
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