New Delhi, Feb. 12: Union Finance Minister Palaniappan Chidambaram has asked state-run banks to ensure that productive sectors of the economy are not starved of credit and to ensure credit flow to the home and consumer durables sectors, which have witnessed some slowdown in recent months.
Chidambaram, who met the chiefs of state-run banks on Tuesday, spoke about credit quality and credit delivery.
The Reserve Bank of India (RBI) has raised interest rates nine times since October 2004 to make loans more expensive.