• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Corporate Results
• Columns
• States
• Web Extras
• Index

• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

• Rates

• Ports

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Subscription

• Business Line

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

NEW DELHI: The Finance Minister Mr P Chidambaram said on Thursday that he had asked for withdrawal of the SBI circular on stopping loans for purchase of tractor and other farm equipments, as it was poorly worded and not justified. "That circular was poorly worded and misunderstood. I asked my secretary to advise the bank to withdraw it," he told reporters here. He said loans must be given and recovered but there is a proper method of doing it. "I don't think that the circular was justified," he said, adding that the best the thing was to withdraw it. The country's largest lender SBI had yesterday withdrawn instructions to its branches advising them to stop fresh loans for purchase of tractors and other farm equipment, since defaults on these had mounted. - PTI
Related Stories:
SBI withdraws circular, opens tractor loan counter

Prev: HTC ties up with Bharti Airtel

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line