Govt asks PSU banks to protect interest of home loan borrowers
New Delhi, April 19: The government today asked public sector banks to hold interest rates on home loans of up to Rs 10 lakh, but be cautious about lending to commercial real estate sector and for buying stocks.
"Banks have been advised that while keeping their long term portfolio (in mind), they should protect the interests of home loan borrowers taking loans of Rs 8-10 lakh, to the extent possible," secretary (financial sector) Vinod Rai told reporters after Finance Minister P Chidambaram's meeting with PSU bankers.
He said following reserve bank's notice to banks for slowing down credit to sensitive sectors like commercial real estate, stock market and non-banking finance companies (Nbfcs), government has asked them to be cautious while lending to these sectors.
Asked whether the government's direction in February to public sector banks not to raise interest rate on home loans still stands, Rai said: "It is only a suggestion that we give... That means that previous advisory stands."
Earlier, presiding over the meeting, Chidambaram asked chief executives of state-owned banks to enhance lending to priority sector at the "correct price."
Considering that the average loans in priority sector is up to Rs 15 lakh, including home loans of Rs 8-10 lakh, Rai said the banks have been advised to raise deposits at low costs to offer such loans at the right price.
RE:ash arrival
by vaibhav nanda on Apr 20, 2007 05:05 PM Permalink
if it bothers u, dont read this man!!
i dont know why this trend has started of late of criticising rediff for putting this info...
several ppl like to read this gossip ..let them read this n talk about this here...if u dont like the news..just exit..if u really hate it too much...send a feedback to rediff...
Mujhe e jodi bilkul achha nehi lagta tha.par ho geya.jo ho raha he achha ho raha he samajh kar jodi ko salamat rakho.All the best and wishing a happy married life.
RE:Ash-Abhishek Wedding
by Anusha R on Apr 20, 2007 04:56 PM Permalink
I love this jodi...because they are getting married at last.... if they don't get married, whosoever these two marry, those people's life would have got miserable. ...ALL THE BEST
RE:[object]
by Anusha R on Apr 20, 2007 05:10 PM Permalink
then why he has to ask me as to what I think about him...why should I think about anybody who is alien to me..stupid question for which stupid answer...
P.S. :- The author has left his own wedding & his bride in a middle way for covering this marriage as he finds this thing more interesting thn his own wife...
The media seem to have made the Abhishek-Aishwarya wedding a news of national importance by describing their list of guests, the dress of the couple, stars attending and not attending the wedding and so on. What is the big deal about this wedding? Is the star wedding more important than the news that matter to the nation? When will we see the media focus on the poverty of common man, a piece of news about the people from remote areas, news about rural people struggling to meet their basic needs in some remote areas in Orissa, Bihar, Jharkhand, Chhatishgarh and so forth? Perhaps the news agents are more interested in selling their newspapers than focussing on some big issues like poverty. It is not that media have not focussed on such issues, it is about glorifying each and every issue of the so-called elite people at the negligence of comman man.
