NEWS & ADVICE : FIXED DEPOSITS
PSU Bank heads and FM to meet this weekend
By Neelima Shankar
Aug 11, 2010
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The Finance Minister, Pranab Mukherjee is going to meet the heads of public sector banks in order to discuss the impact of rise in lending rates which many of these lenders have adopted as a result of policy rate hike by RBI.

The agenda of the meeting would include the impact of raised BPLR on various credit segments like home, auto and education.

Many lenders have so far raised their benchmark prime lending rates. These include the likes of Punjab National Bank, Bank of Baroda, Oriental Bank of Commerce, Corporation Bank, UCO Bank, Allahabad Bank and IDBI.

BPLR has given way to base rate system of lending. According to sources, the FM will consider the performance of banks and also their projections for this year.

Sources said, the agenda of the meeting also includes a review of credit growth, including to the agriculture and infrastructure sectors, and banks' networks in unbanked blocks.


 


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