November 15, 2012 9:22 AM

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Chidambaram to meet heads of public sector banks today

Finance Minister P Chidambaram will meet heads of public sector banks today to review financial performance and credit flow to productive sectors in the light of subdued economic activity, among other issues. Official sources said, the broad agenda of the meeting include review of first half numbers, deteriorating asset quality and credit growth. The meeting will also dwell upon steps to increase credit flow to micro, small and medium enterprises farm sector, infrastructure and housing sector. The officials said, Non-performing assets of the banks have been on the rise for past several months due to slowdown in economy. The high-profile meeting is being held in the backdrop of the half-yearly review of monetary policy by the Reserve Bank of India wherein central bank left benchmark interest rate unchanged on concern of inflation.

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