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Finance minister says no liquidity issue post 'tonic-like' meet with banks

  •   Thu, Sep 26 2019 09:07:42 PM

New Delhi, Sep 26 (IANS): Describing her meeting with the bankers as a "tonic", Finance Minister Nirmala Sitharaman said on Thursday that there is no liquidity related problems being faced by the private sector lenders and the non-banking financial companies (NBFCs).

Addressing the media after meeting the bankers, NBFCs and mutual funds, Sitharaman said that no banks or other financial institutions felt that there is a problem of liquidity in the system.

She said that banks have been invited to participate in the credit outreach programme spanning 400 districts.

The Finance Minister further said that the service sector has shown high appetite for credit. On the ongoing subdued demand in the automobile sector, Sitharaman said that low commercial vehicle demand is a cyclical problem.

She said that all financial institutions are largely optimistic and hope that the upcoming festive season would boost consumption and demand. Sitharaman also said the affordable housing scheme has taken off well.

 
  

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Comment on this article

  • Rion, Udupi

    Fri, Sep 27 2019

    Ask her question, what’s liquidity. Surly she will give chemistry answer.

    DisAgree Agree [12] Reply Report Abuse

  • Dsouza, Mudarangadi/Udupi

    Fri, Sep 27 2019

    She will point towards RBI governer, and he will give a strange look like just woke up from deep sleep dint understand whats going on arround him. Press peoples will be like ohhh noooo what to ask next to save them from shame.

    DisAgree Agree [4] Reply Report Abuse

  • Jossey Saldanha, Atlanta

    Fri, Sep 27 2019

    Thanks to Life Insurance Corporation of India ...

    DisAgree Agree [12] Reply Report Abuse

  • ad, mangaluru

    Fri, Sep 27 2019

    Borrow and spend? to keep banks afloat and public in debt?

    Are you Finance Minister or Lender of Credit?

    DisAgree Agree [13] Reply Report Abuse

  • Mangalurian, Mangaluru

    Fri, Sep 27 2019

    The whole scenario sounds like India is heading the Zimbabwe way.

    It won't hurt to withdraw some cash and keep it safe. Just in case...

    It may be be good to also buy a couple extra rice/wheat bags. Just in case...

    DisAgree Agree [15] Reply Report Abuse

  • AnoNymouS, Mangalore

    Fri, Sep 27 2019

    Nooooooooooooooo..... You dont know when he will drop the Mitron bomb accompanied by another miserably executed DEMONitization.

    DisAgree Agree [1] Reply Report Abuse

  • Jossey Saldanha, Atlanta

    Fri, Sep 27 2019

    They have already milked LIC ...

    DisAgree Agree [11] Reply Report Abuse

  • S.F.H, Mangalore

    Fri, Sep 27 2019

    Panothy....!!!

    DisAgree Agree [13] Reply Report Abuse

  • Rahul, Mangalore

    Fri, Sep 27 2019

    Looser women.
    When she is defence minister Rafael deal.
    When she is finance minister banks empty.

    DisAgree Agree [18] Reply Report Abuse

  • SmR, Karkala

    Fri, Sep 27 2019

    On 20 September, Finance Minister Nirmala Sitharaman had announced a deep cut in corporate tax rates, from 30 percent to 22 percent. This, according to experts, will mean a loss of Rs 1.45 lakh crore in tax revenues.

    Instead of giving this bonanza to corporates on taxes what Govt should have done is declare that all due payments of Govt to unlisted companies (mostly SMEs) will be cleared within 45 days. If not delays will invoke interest on due amount?

    Finance minister says no liquidity issue because her BJP government has looted and scooted Reserve Bank of India's 1.76 Lakh crores to meet the deficit of 1.77 lakh crores.

    After the 10 nationalized banks merger the Indian economy heading for a crisis like 'Greece' with tumbling Rupee value like Zimbabawen Dollars.

    The worst is the Modi government was “shattering” people’s trust in LIC by investing the state-run insurance firm’s money in loss-making companies. The LIC invested Rs 10.7 lakh crore in the last five years in the public sector, only marginally less than the Rs 11.94 lakh crore that was cumulatively invested between 1956, the year it was founded, to 2014.

    LIC may directly hit its 28.24 crore policyholders, around 1.12 lakh employees and 10.72 lakh active agents. The liability has increased to ₹7.40 lakh crore which is a matter of concern.

    IDBI posted a loss of Rs 3,800 crores in June 2019 with almost 29% non-performing assets this Union cabinet has announced that Rs 9,300 crores are to be infused into the IDBI this month.

    The BJP's government $5 trillion economies have used around ₹30,000 crores to bail out IDBI. Perhaps you may one of the 29 crores policyholder who has saved money for daughter wedding, son education, health insurance and for the worst financial crisis will be like 'Punjab Maharashtra Bank' account holders?

    Next will it be an IDBI, UCO or LIC is going to be history without Demonetisation?

    Jai Hind

    DisAgree Agree [15] Reply Report Abuse

  • KRPrabhu, Mangalore/Bangalore

    Fri, Sep 27 2019

    ಇವರಿಗೆ ಕಾಲೇಜ್ ಲೆಕ್ಚರರ್ ಹುದ್ದೆ ಅತ್ಯಂತ ಸೂಕ್ತ ಕೆಲಸ ಅನಿಸುತ್ತದೆ..

    DisAgree Agree [11] Reply Report Abuse

  • Anil, Dubai

    Thu, Sep 26 2019

    Do one more time ... demonetization......
    than india will be vanished.... .. no problem at all....

    DisAgree Agree [16] Reply Report Abuse

  • YOGI THUNTA, MANGALURU - NEAR PUMPWELL CIRCLE

    Thu, Sep 26 2019

    Its a suicidal decision of making her FINANCE MINISTER ! Not only her but others are in que of MINISTERIAL BIRTH WHO DOESN'T HAVE ANY CLUE OF THEIR PORTFOLIO as the voters lavishly vote them in the name of religion and that too in supreme majority and no one is asking them for any of their actions whether its wrong or right ! Top of that opposition party is almost not there and the party leader is utterly pathetic JAI HO JAI HO HO HO

    DisAgree Agree [14] Reply Report Abuse

  • Roshan DC, UAE

    Thu, Sep 26 2019

    Face is the mirror of mind....artificial smile with worries, explains entire episode.

    DisAgree Agree [42] Reply Report Abuse

  • Dsouza, Mudarangadi/Udupi

    Thu, Sep 26 2019

    If peoples hve hand full of money, then they plan for colourful festive. If no jobs, no money how somebody will spend on festive !! Why FM dont think like comon man..!!!

    DisAgree Agree [40] Reply Report Abuse

  • Howdy, Mangalore

    Thu, Sep 26 2019

    Stop insisting payment by digital transaction to roadside chai and Pakoda vendors if you really want to stop liquidity crunch. Don't expect every penny to come to your account from every money transaction through digital transaction so that opposition will not get hold of it.

    DisAgree [2] Agree [30] Reply Report Abuse

  • Sahil, Mangaluru

    Thu, Sep 26 2019

    Very easier to narrate a stories.
    1.20000 limit why?
    2.6months only 20000 why?
    3.who will pay public hard earned money?
    4.no liquidity?
    5.why bank merger?

    Fact is demonetisation failure.
    Business slow down.
    Economy slow down.
    Loan given from banks before demonetisationnot re overed due to 90 percentage of business collapsed.

    DisAgree Agree [48] Reply Report Abuse


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