This meeting assumes importance pursuant to the fiscal stimulus package announced last Sunday mentioning package for housing loans below Rs 20 lakhs (Rs 2 million). The government had earlier said that public sector banks would soon announce a package for borrowers of home loans up to Rs 500,000 and between Rs 500,000 and Rs 20 lakhs (Rs 2 million).
Recent liquidity easing measures from the central bank and the improving scenario might lower the lending and deposit rates in the next one month, a top banker said. As part of its efforts to ensure stability and sufficient liquidity in the financial system, Reserve Bank is likely to continue its ongoing policy measures but is unlikely to slash the repo rate in the forthcoming policy, Narayanasami said.
Indian Banks' Association on Thursday said banks cannot lower their lending and deposit rates any further under the current scenario.
The loan was offered to Maytas by a consortium of banks to fund one of its infrastructure projects that has an execution period of few years. However, BOI has not given any direct credit to Maytas, a BOI official said. Maytas Infra came under the scanner of regulators and other agencies probing Satyam fiasco after Hyderabad-based IT giant plunged into a crisis on account of gross manipulations committed by its former chairman B Ramalinga Raju.
The finance ministry has finalised the top-level reshuffle in public sector banks.
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