The President Mrs Pratibha Devi Singh Patil has said that while indiscriminate grant of credit must be avoided, lending of finances should not be denied for productive enterprises. She said that this is necessary to speed up development and infrastructure projects for the country. Speaking at a function to commemorate the platinum jubilee celebrations and the release of the postage stamp on the Reserve Bank of India, Mrs. Patil said that the priority of the banking system should be to provide support to the country's vibrant and inclusive economy. She said that RBI should consider evolving a mechanism under which women self help groups, especially those belonging to the BPL category are provided with credit at an interest rate not exceeding four per cent per annum. She said that the return of the Indian economy to a 7 per cent growth rate justifies the correctness of the government policies. She also said that the growth trajectory is expected to be high in the coming year.
News On AIR | January 17, 2010 8:50 AM
Provide support to inclusive economy: Prez to RBI