SEARCH

Chidambaram to meet public sector bank chiefs on August 18

K. R. Srivats
Comment   ·   print   ·  
P. Chidambaram, Finance Minister
P. Chidambaram, Finance Minister

Finance Minister P. Chidambaram will meet public sector banks and financial institutions chiefs on August 18 in the Capital.

This will be his first meeting with PSU bank chiefs after assuming charge as Finance Minister on August 1.

This meeting is significant as it comes in the backdrop of the banking industry facing a crisis-like situation on several fronts, including rising bad loans and human resource problems.

There is also the threat of drought in several parts of the country, adversely impacting bank balance-sheets in the second quarter.

Chidambaram has also invited the heads of Nabard, Exim Bank, National Housing Bank, India Infrastructure Finance Company Ltd and SIDBI. The Chairman of pension regulator, PFRDA, has also been invited, official sources said. Chidambaram’s predecessor, Pranab Mukherjee, also followed the practice of meeting chief executives of PSU banks.

Such meetings offer an opportunity to the Finance Minister to review the status of financial inclusion, extent of farm credit growth and progress on the education loans front.

Already, Chidambaram has indicated that he would prefer lower interest rates to spur investments.

The RBI expects the Indian economy to grow 6.5 per cent in the current fiscal, while the Prime Minister’s Economic Advisory Council Chairman, C. Rangarajan, had pegged it higher than 6.5 per cent.

srivats.kr@thehindu.co.in

(This article was published on August 7, 2012)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.

Comments:

This article is closed for comments.
Please Email the Editor
Audio
Rajalakshmi Nirmal and Radhika Merwin of the BL Research Bureau discuss the role of asset reconstruction companies (ARCs) in the banking sector and how they deal with bad loans.

DATA BANK

Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures


Investing.com Forex Charts powered by Investing.com.


O
P
E
N

close

Recent Article in Banking

SBH launches 275 days deposit

State Bank of Hyderabad has launched a new deposit scheme for 275 days for their medium period investments, for period less than... »

Comments to: web.businessline@thehindu.co.in. Copyright © 2014, The Hindu Business Line.