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Increase agricultural credit flow: Pranab Mukherjee

Finance minister Pranab Mukherjee today said though the hike in fuel prices will have some inflationary pressure in the near term, it would be absorbed in the course of time.

June 28, 2010 7:18 IST | India Infoline News Service

Finance minister Pranab Mukherjee today said though the hike in fuel prices will have some inflationary pressure in the near term, it would be absorbed in the course of time.


Mukherjee said the decision on policy rates is the prerogative of the central bank, which will consider all factors in its July policy review.


Finance minister Pranab Mukherjee has asked for an increase in the agricultural credit flow. He urged bankers to provide financial assistance to smaller industries and extend banking facilities in remote locations.


The finance minister held a meeting with bankers and chief ministers. Those who attended included chief ministers of Maharashtra, Rajasthan, Madhya Pradesh, Goa and finance minister of Chhattisgarh and heads of State Bank of India, Central Bank of India, Bank of Maharashtra, Dena Bank and Bank of Baroda.


The finance minister reiterated that including people from all strata into the mainstream banking system would put the country firmly on the path of overall growth and development.


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