(PTI)Union finance minister Nirmala Sitharaman’s grand plan to get public sector banks to dole out loans and kick-start an economic arrival appears to have been star-crossed. In many states, people do not consider it a good time to make purchases,” Sitharaman told reporters after daylong confabulations with representatives of private sector banks, non-banking finance companies and housing finance companies. However, one or two sectors may still feel some stress,” the finance minister said. Sitharaman had obviously failed to consult the almanac when she announced on September 19 that public sector banks would start shovelling credit to their increasingly tight-fisted, purchase-averse customers. Private sector banks have also been invited to join the outreach programme.

Source: The Telegraph September 26, 2019 22:39 UTC