Business

Self-Help Groups Can Create Jobs With Banks' Funds: Jaitley

News World India | 0
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| July 11 , 2017 , 13:14 IST

Acknowledging that the size of the unorganised sector was large, Union Finance Minister Arun Jaitley on Tuesday said that employment in the section can be raised if banks divert funds through the medium of self-help groups (SHGs).

"Employment can be increased if through the banks' funds are diverted into the unorganised sector," Jaitley said here at the 36th Foundation Day of Nabard.

"Unorganised sector is much more than the organised sector," he said.

The Finance Minister noted that during the growth of the country, "people on the margins are not benefited" and the aim of the government and state policies is to help in the growth of such groups.

Twenty-five years back, SHGs were devised so that such people in the unorganised sector can get loans, he said.