Budget is pragmatic and credible: Chanda Kochar |
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Zeebiz Bureau
New Delhi: ICICI Bank Managing Director and CEO Chanda Kochhar has welcomed the Union Budget 2012-13. Kochar said that the Budget is pragmatic and credible. "The borrowing is higher than market expected. Tapping the subsidies, we have to really watch how it is done. I am not hopeful that the RBI will be able to cut rates in April," Kochhar said.
FM in his budget made the following announcement for the Banking and Finance sector:
- India Opportunity Venture Fund via SIDBI of Rs 50 bn
- To issue revised norms for banks priority sector lending
- To set up financial holding company for recapitalization of banks
- To move National Housing Bank Amendment Bill
- To move Regional Rural Bank Amendment Bill
- Rs 158.88 bn for capitalization of PSU banks in FY 13
- Propose electronic voting to up shareholder involvement
- IPOs of over Rs 100 mn to be in electronic form
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First Published: Friday, March 16, 2012, 18:04
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