Banks should not give in to any pressure: FM

Written by Agencies | Tiruchirapalli, December 28: | Updated: Dec 28 2007, 21:48pm hrs
Union Finance Minister P Chidambaram asked the banks not to give in to pressure of any kind, including that from political circles, while issuing loans to applicants.

Bank officials should weigh the merit of the case and be liberal in sanctioning loans to the poor and downtrodden, he said while inaugurating the 179th branch of the Pandiyan Grama bank(PGB).

"Every customer, be it a depositer of Rs five or Rs five crore, should be treated equally that too when the government was keen on implementing financial inclusion in the rural areas", he said.

He lauded the performance of PGB for achieving 'numero uno' status among the 92 regional rural banks in the country.

He said the government had given its approval of PGB to expand its operations in six more districts of Tamil Nadu namely Tiruvarur, Thanjavur, Tiruchirappalli, Theni, Nagapattinam and Perambalur in addition to the nine districts where it was already operating.

He also said that the PGB will be opening the 180th branch at Theni on December 31 and four more branches would be opened before the end of this fiscal in the state.