New Delhi, Dec. 23 -- Commerce and Industry Minister Piyush Goyal on Monday said it was encouraging to see public sector banks (PSBs) competing on an equal footing with private and foreign banks, highlighting their growing role in supporting India's economic expansion.

Addressing the MSME Banking Excellence Awards in New Delhi, the Minister said PSBs have emerged as strong and competitive institutions, playing a key role in financing growth.

He underlined the importance of the banking system in supporting micro, small and medium enterprises (MSMEs), noting that access to timely and adequate credit has been central to the growth of small entrepreneurs.

Banks, he said, have expanded institutional credit to MSMEs, including borrowers who ...