Problems will be resolved once investment is revived: FMAugust 18th, 2012 - 4:29 pm ICT by IANS
New Delhi, Aug 18 (IANS) Finance Minister P. Chidambaram Saturday said most of the country’s economic problems will be solved once investment is revived.
“Reviving investments is a key challenge for us. (Investor) sentiment is not the only issue…sentiment will change with other issues…once we get the investment engine started, I think many of our problems can get resolved,” Chidambaram said after meeting chiefs of public sector banks.
The finance minister reviewed the performance of public sector banks (PSBs) in the wake of the slowdown and concerns over rising bad loans.
“We had a very substantial agenda, which included agri credit, lending to minorities and state of health of the banking sector. Fuel supply grievances, land acquisition issues have also been discussed, which are inhibiting investments. I am going to discuss all these issues with the line ministries to push investments,” he added while briefing the media about the meeting.
The minister said the Indian banking system is sound and there has been a marginal increase in non-performing assets (NPAs) which is not alarming.
“No banks in India have failed in terms of parameters in which we measure health in banks. All banks are in good health.”
He also advised banks to focus on sectors which deserve credit and urged people to take to banking.
“Rs.11 lakh crore lies as cash in the hands of the people that should be in the banking system,” the minister said, adding that banks have been advised to quickly enable ATM machines as not just cash disbursing machines but also cash accepting machines.
- Public sector bank's non-performing assets not alarming: FM (Roundup) - Aug 18, 2012
- Public sector bank's non-performing assets not alarming: FM - Aug 18, 2012
- Lower EMIs for consumer durables, Chidambaram tells PSBs (Lead) - Aug 18, 2012
- Education loan is a right of every student: Chidambaram - Aug 18, 2012
- Pranab asks banks to reduce non-performing assets - Jun 12, 2012
- Pranab asks banks to take belt tightening measures - Jan 06, 2012
- Public sector banks' NPAs rise to 2.31 percent - Aug 16, 2011
- SBI expects another Rs.40 billion capital infusion - Aug 23, 2012
- Public sector banks to disburse Rs.6 lakh crore farm loans: Chidambaram - Aug 25, 2012
- Pranab to review banks' performance - Jul 07, 2011
- Banks' non-performing assets may rise: Assocham - Aug 14, 2011
- 'Government banks lending to key sectors up 19 percent' - Mar 15, 2012
- Public sector banks will get adequate capital: Pranab (Lead) - Feb 19, 2012
- Bill to help banks recover dues to be introduced in winter session - Oct 13, 2011
- 'Delayed monsoon to affect credit offtake in farm sector' - Jul 09, 2012
Tags: acquisition issues, atm machines, banking sector, banking system, banks in india, crore, economic problems, finance minister, fuel supply, good health, grievances, investor sentiment, land acquisition, marginal increase, measure health, non performing assets, npas, p chidambaram, public sector banks, slowdown