FM asks banks to curb home and retail loans

Union Finance Minister P Chidambaram has asked public sector banks to go slow on disbursals of home and other consumption loans to help fight inflation.

The minister met the chairmen of state-owned banks in New Delhi on April 19. Usha Thorat, deputy governor of the Reserve Bank of India, was also present at the meeting.

The banks were also urged to reduce high-cost bulk deposits within three months to ease the upward pressure on interest rates.

Chidambaram conveyed the government