INDIA, MUMBAI: The Reserve Bank of Indian on Wednesday mentioned the likelihood of modification in concern industry loaning standards with financial institution chiefs, who pushed for some modifications in the ultimate recommendations on the issue launched in September.
The problems mentioned included category of credit score to trade units and elevated loaning objectives to farming, lenders coming out of the meeting informed correspondents.
"We've given some of our views, let them examine. We've raised a lot of problems and RBI is very open to talk about, (this) is what they have indicated," state-run Nation Bank of Indian Chair and Managing Home D Sarkar informed correspondents.
He said the core of bankers' bookings center around explanations of what enables as concern industry loaning.
Every financial institution, he said, will soon be submitting data in this regard to the RBI, whose top priority is to ensure a flow of credit score to farming.
Even though RBI launched the ultimate recommendations on concern industry loaning in September, concerns indicated by lenders had persuaded Subbarao to declare that standards will be revisited.
According to him, lenders have indicated discomfort over the RBI putting a foreign financial institution with over 20 offices in the country at par with domestic ones on concern industry loaning.
To meet credit score needs of large areas of population who had no access to institutional finance, RBI created the structure of concern industry loaning with required objectives.
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