Thursday, June 23, 2011

Bankers to voice growth concerns during meet with FM

MUMBAI: Bank chiefs are expected to express concerns about rising interest rates and slowdown in the economy in their forthcoming meeting with the finance minister Pranab Mukherjee . The finance minister has called a meeting with chief executive officers of state-owned banks on July 8 to review their quarterly performance. The meeting comes soon after the Reserve Bank of India has raised policy rates and said that it will continue fight against inflation even if it means sacrificing growth. Bankers said that FM is also likely to discuss issues related to progress on financial inclusion, loans to farmers and students and recovery of bad loans. The managing committee of the Indian Bank Association, a lobby of banks' management, will meet by the end of this week to discuss the issues that could be raised with the finance minister.
BS

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