Finance Minister Stresses the need to Give Impetus to Credit Growth; Reassures the Banks and Financial Institutions About Government's Commitment of Non-Interference in Matters of Commercial Decisions, Transfers and Postings Etc.

The Union Finance Minister Shri Arun Jaitley said that there is an immediate need to give impetus to credit growth. He said that credit growth, on year-on-year basis, declined to 10.0% in September 2014, with Public Sector Banks (PSBs) recording a growth of 7.9%. He further informed that growth in deposits also declined to 12.9% as of September 2014 from 13.7% as of March 2014. The Finance Minister, Shri Jaitley was making his Opening Remarks during the Pre Budget Consultative Meeting with the representatives of Banks and Financial Institutions here today.