Treat loan applications on merit, says FM

Tiruchirapalli | Updated: Dec 29 2007, 04:33am hrs
Finance minister P Chidambaram on Friday asked banks not to give in to political pressure, or for that matter pressure of any kind, while sanctioning loans. 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) here. Every customer, be it a depositor of Rs 5 or Rs 5 crore, should be treated equally, he said, adding that the government was keen on implementing financial inclusion in rural areas.