The Hindu Business Line : Bankers told to be liberal in sanctioning loans

BANKERS should be liberal while sanctioning loans to the deserving people, particularly students and they would not be questioned if there were defaulters here and there, said the Union Finance Minister, Mr P. Chidambaram, while disbursing loans at a function organised by the Indian Overseas Bank at Devakottai near here.

He said that banking being a business, bad debts are bound to happen and some may fail to repay the loan.

The Government has fixed a target of giving farm loans to the tune of Rs 1, 60,000 crore in three years and the bankers are striving hard to meet it. The farmers should repay the loans on time to become eligible for fresh loans, he emphasised.

He disbursed assistance to the tune of Rs 2.14 crore to 252 SHGs.

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