November 30, 2010 11:10 AM

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FM asks investors not to press panic button over housing finance racket

Finance Minister Pranab Mukherjee today asked investors not to press panic button over the housing finance racket as the loans are protected. Talking to reporters on the sidelines of a seminar on inclusive growth in New Delhi, he said loans given by institutions, some of whose officials were arrested in connections with the housing finance racket are protected. Mr Mukherjee said, he is in touch with RBI Governor, Chairman of Life Insurance Corporation in this regard. CBI sleuths had on 24 November uncovered a multi-crore corporate housing-loan racket involving several public sector lenders including LIC and Bank of India.

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