New Delhi: Finance minister Arun Jaitley on Tuesday exhorted financial institutions, including the National Bank for Agriculture and Rural Development (Nabard), and banks to focus on funding the unfunded so that employment in the unorganised sector goes up. “It is a fact that people in the unorganised sector are much higher than the organised sector, but the former gets credit with a lot of difficulty,” he said at an event organised by Nabard. More From Livemint »“If the resources of banks and financial institutions through various schemes are diverted towards this (unorganised) sector, it will help create more employment,” he stressed. Recalling the benefits of self-help groups (SHGs), Jaitley said they have come a long way and generated lakhs of jobs in rural areas. It has been observed that the repayment capacity is much higher with regard to all microfinance schemes, he added.

Source: Mint July 11, 2017 10:18 UTC