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Realty Segment gets more teeth from Indian Banks

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The Indian banks are more interested in pumping funds to the realty sector being fully aware of the slump down in the international market. They have invested around Rs. 92 crores till March 2009 in comparison to Rs. 63,000 crores during March 2008. The pooling of the amount is nearly two-fold which is said to be an increase by 45% of the amount of 44,000 Crores at the roaring period of 2007, adds the source at www.propertykhazana.com.
The banks owned by the government made a huge contribution. Undeterred by the RBI’s policy on limitation to banks for single and multiple borrowers – a prevention that is adopted in the western world, Punjab National Bank made a huge investment of Rs. 11,000 crores during Jun e 2008 to May 2009 which is a high of389% in comparison to last year when their over all lending to the realty segment was only Rs. 2.255 crores.
State Bank of India stood next by lending Rs. 10,467 crores till May 2009 with a high of 73% in comparison to Rs. 6,062 crores invested till May 2008 quotes a source at www.propertykhazana.com.
ICICI rated third in investment from large 10 banks pooling more or less Rs. 4500 crores till May. Though there was a downtrend of growth by 14% it had invested Rs. 5,700 crore during the last year. Indian Overseas Bank, Oriental Bank of Commerce, Axis Bank, Bank of India, Indian Bank and Central Bank of India and Union Bank of India are the other top ten bankers who made their contribution.
HDFC who did not wish to face any threat and wanted to be alert made an investment of Rs. 750 crores in 2009 pooled Rs 250 crores till May 2008. For more and latest realty information browse www.propertykhazana.com.
Source: NBTVLIVE

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