Bankers see some scope in interest rate cut
By Vaibhav Aggarwal
Jun 10, 2009
Print    Email    RSS   

The pre-budget meeting between the finance minister, Pranab Mukherjee and the chiefs of state-run banks is scheduled today.

It is expected that the finance minister will review the annual performance of the banks in context of key areas like agriculture, micro, small and medium enterprises, housing and education. Other issues expected to be discussed in the meeting include the interest rates reduction, recapitalization of base of the banks to meet the capital adequacy and stress on industry lending by the private and foreign banks.

In a pre-meeting statement, C A Pereira, chairman, Bank of Maharshtra, said, "There is a scope for cut in interest rates by 25 basis points."

He also added, the bank expects 17-20 percent growth in credit in first half this year that began April 1.

K. Ramakrishnan, chief executive, Indian Banks' Association, today said, Credit growth in the nation is improving as the economy revives. Lenders are also seeking tax concessions for depositors."

Earlier, stating the agenda of the meeting, M D Mallya, Chairman and Managing Director, Bank of Baroda, said, "it would be a routine quarterly meet, with discussions revolving around corporate performances, credit demands and interest rate scenario."


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Manage your loans, avoid recovery agents
Your dream car - with good Car Loans from...
Carnival of Indian Personal Finance Blogs #1
Carnival of Indian Personal Finance Blogs #3
This is how a bank lends money

Hello I am looking to renew my car insurance and I...
my loan no

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive