Business Daily from THE HINDU group of publications
Thursday, Jun 22, 2006
Business Daily from THE HINDU group of publications Thursday, Jun 22, 2006 |
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Money & Banking
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Credit Market IDBI sees credit picking up Our Bureau
MR V.P. SHETTY
Mumbai , June 21 IDBI Ltd expects credit growth to pick up in the coming months. "We have sanctioned projects and they are in the process of disbursal during the year," said Mr V.P. Shetty, Chairman and Managing Director, IDBI. The bank has given loans to the tune of Rs 300-350 crore to the retail sector in the past two months. Mr Shetty also said that at present liquidity looks comfortable, with the Reserve Babnk of India absorbing around Rs 25,000 crore everyday through reverse-repo auctions. IDBI had increased its deposits by Rs 2,000 crore in the last two months, he said on the sidelines of a conference on environmental governance standards for financial institutions. The bank's deposits stood at Rs 26,000 crore at the end of the 2005-2006 fiscal. On the issue of interest rates, Mr Shetty said that the change in interest rates would depend on the resources' position and demand for credit. "We are conducting fortnightly meetings with top management officials to discuss the issue of interest rates," he said. Speaking at the conference, Mr Shetty said that environmental governance was part of corporate social responsibility. IDBI, while appraising a project, takes into account the nature of pollutants and environmental risk.
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