The Hindu Business Line : Y.V. Reddy calls on Chidambaram

This meeting comes close on the heels of the RBI's third quarter credit policy review statement of January 31 and the Finance Minister's meeting with the Chief Executives of public sector banks (PSBs) on Monday.

Indications are that the Finance Minister would have, among other things, conveyed the views of PSB chiefs on certain issues relating to the credit and monetary policy review statement.

Some of the PSB chiefs on February 5 suggested that the increase in provisioning for the four identified segments of real estate sector, credit card receivables, personal loans (excluding residential housing), loans recognised as capital market exposure should be spread over four quarters of 0.25 per cent each instead of 1 per cent at one go.

There were also suggestions to the effect the definition of real estate be altered to ensure that the additional provisioning of 1 per cent is not required for hotels, hospitals and educational institutions.

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