In a statement, the Managing Director Ravinder Singh of one of the leading UCBs, SVC Co-operative Bank has said that the Union Budget 2025-26 introduces transformative measures for the cooperative banking sector. The coverage of the credit guarantee scheme has been increased, which will help to finance MSME units who are not having sufficient collateral to offer.
The turnover and investment criteria of MSME have been increased which will help UCBs in securing more MSME units under priority sector lending. Schemes for first time women and SC/ST entrepreneurs will give us scope to penetrate more weaker section advances, he said.
These initiatives will strengthen the co-operative banking sector’s ability to serve our core customer base, said Mr Singh.
At SVC Co-operative Bank, we are well-positioned to leverage these reforms to further our mission of empowering local communities and supporting India’s journey toward Viksit Bharat, he stated.