After finance minister Nirmala Sitharaman’s nudge to state-run banks for holding loans melas across India from October, state-run has kick started its “customer outreach programme,” to promote doorstep banking and be an active partner in the ongoing economic revival process.

The public sector lender started its pan India intiative from Srinagar, and will seek to further promote banking schemes like PM Svanidhi, MSME Mudra Loan and social security schemes.

“Valley has vast untapped potential for banking business growth, which needs to be tapped immediately to pass on the benefits of the various banking products like housing, vehicle, education, agriculture,” said the banks managing director & CEO, AK Das.

The lender is actively considering opening of one more branch in the valley to enter mainstream banking with fully digitized facilities. ” It will not only boost and accelerate the socio-economic growth of the region but will contribute to uplift the livelihood of the people at large,” said Das.

In August, Sitharaman had announced that she has asked state-run banks to step up lending and hold outreach programmes or loans melas across India in order to give momentum to the stimulus package. Sitharaman said that it was too early say that there is lack of credit demand in the economy.

“This year too sometime in October, there will be a credit outreach in every district of the country,” the finance minister said. “In order to keep up the momentum of stimulus that we are periodically giving we have also asked banks to go out and give credit.”