Business Daily from THE HINDU group of publications
Thursday, Jul 09, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Jul 09, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Rural Marketing Industry & Economy - Economy ‘Thrust on rural economy is good for banks’ 
Mr J.M. Garg Our Bureau Mangalore, July 8 The Budget is good because ultimately it is supporting infrastructure, agriculture and micro, small and medium enterprises, according to Mr J.M. Garg, Chairman and Managing Director of Corporation Bank, If rural economy picks up, it is good for the banks. Ultimately this will drive demand. Take-out financing mechanism and refinancing of infrastructure projects measures should help banks to increase their exposure to infrastructure, he said. ‘Positive measures’
Mr Ananthakrishna Mr Ananthakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, said that both individuals and corporates have been given marginal benefits in direct taxes. These are positive measures. But one issue which mostly the private sector banks are concerned about is the announcement of interest subvention for crop loans. “On earlier occasions it was made available only to the nationalised banks. Inspite of the private sector banks requesting for that, it was not given.” More Stories on : Rural Marketing | Economy
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