Banks should not shy away from extending credit to Poor people: Venkaiah Naidu

Union Urban Development Minister Venkaiah Naidu has said that the country's poor are bankable and banks should not shy away from extending credit to them.

Addressing a Financial Literacy Camp in New Delhi, the minister said that the repayment of poor including Self Help Groups (SHGs), stands high at around 98-99 per cent.

Mr. Naidu further said that the



banks should focus more on poor and open bank accounts for them. He added that the government has taken up the task of banking the unbanked, funding the unfunded and reaching the unreached.

Talking about the Goods and Services Tax (GST), the minister said the Constitution Amendment Bill is expected to be passed in the upcoming monsoon session of Parliament.