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PSU banks to formalise package for housing, SMEs tomorrow

PSU banks to formalise package for housing, SMEs tomorrow
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First Published: Thu, Dec 11 2008. 04 37 PM IST
Updated: Thu, Dec 11 2008. 04 37 PM IST
PTI
New Delhi: Public sector banks will give tomorrow definite shape to the credit package, mentioned in the stimulus package announced by the government on last Sunday, for the beleaguered housing and medium enterprises sectors.
“Some package would be formalised by tomorrow,” Indian Banks’ Association Chairman T S Narayanasamy told reporters after a meeting of the heads of state-run banks here.
He said the meeting discussed what relief for housing and SMEs sectors can be given. However, he quickly added, “We still have not formed opinion (on the package).”
The package for housing loans below Rs20 lakh was mentioned in the fiscal stimulus package announced on Sunday.
The government had said that public sector banks would soon announce a package for borrowers of home loans in the range of Rs5 lakh and Rs20 lakhs. It had further said that additional measures would be taken as necessary to promote an accelerated growth trajectory in the housing sector.
However, the exact contours of the package was not disclosed that time and public sector banks are expected to announce it.
The meeting was also attended by Finance Secretary Arun Ramanathan and other ministry officials.
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First Published: Thu, Dec 11 2008. 04 37 PM IST