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Finance Ministry advises banks on funding on realty

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The finance minister had advised the banks to work to rule as the exposure in the field of real estate as it had been observed extraordinary growth over the last 3-4 years.
He aimed that banks should not liberal on lending loans for the commercial realty ventures and real estate lending requirements by showing their performances ordinarily. He also advised the banks to fund for the GDP.
The event which was conducted by UBI, there the FM told his plans stating that the country would grow too fast if it is restraining the economy. Early the former RBI governor came ahead to take the steps required for the achievement of sustainable growth. As these necessary steps had been taken as a result of which the Indian economy had shown a significant progress by 9.2% compared to the yester years.
The country had rapidly progress because of the rapid growth in the GDP %which had increased to 9% a statement of belief given by the FM.
As the economy had progressed at a faster rate the progressing country India had brought about a remarkable act and these requirements were maintained in order to bring future prospects.
As the lending rates of the banks had been increased to 30%, the RBI Had suggested to the banks decrease their lending rates. In addition to this the government banks were also asked to update their knowledge uniquely in order to excel the private banks and nationalized banks .
Source: NIMMA BENGALURU

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