The Finance Minister Pranab Mukherjee said that more than 43,000 villages will be brought under the banking network by March 2012. Addressing the media in New Delhi, he said that the farm credit target for 2011-12 has been more than met. AIR correspondent reports that four lakh 75 thousand crore rupees have been earmarked as farm credit in the current fiscal. Mr.Mukherjee said that the net profit of banks grew by 14.38 per cent in 2011-12. He, however, expressed concerned over the increase in non-performing asset in last fiscal. In reply to a question, the Finance Minister said that the task force headed by Nandan Nilekani has submitted an interim report and now banks have to play a major role for inclusive growth and expansion of banking facilities.
News On AIR | July 8, 2011 2:00 PM
More than forty-three thousand villages to be brought under banking network:FM