The finance minister
Mr. P. Chidambaram had asked banks to lend a helping hand to builders /
promoters, particularly those involved in financing housing construction, to
revive the faltering economy.
Finance Minister Mr.
P. Chidambaram discussed the problems of the real estate sector with the chiefs
of government banks at a meeting held
last week in New Delhi.
Public sector
bankers, who attended the meeting, described the broad thrust of the finance
ministers comments.
The minister Mr. P.
Chidambaram asked banks to fund those residential projects that are stuck for
want of funds.
Help Kick Start Economy..!
According to a bank
chief who attended the meeting said, Mr. P Chidambaram feel this will help kick
start the economy.
In August this
year,(2012) shortly after returning to
the ministry, Mr. P. Chidambaram had asked banks to put pressure on builders to
lower prices to reduce a growing inventory of unsold apartments.
During the meeting,
the finance minister Mr. P. Chidambaram reviewed a report prepared by Mr. Ajai
Kumar, CMD, Corporation Bank,on unsold stock in the real estate market and the
way ahead.
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