Liquidity not a crisis, Sitharaman says after meeting bank chiefs
New Delhi, Sept 27 (IBNS): Union Finance Minister Nirmala Sitharaman on Thursday said liquidity is not a crisis after meeting banks and financial institutions' chiefs.
Speaking at a press conference following the meet, Sitharaman said: "Sum and substance of what I heard was that there is no liquidity crisis."
"If there was a problem of liquidity, it was in the wholesale financing, and not in the retail," she added.
The Finance Minister said that many of the MFIs and micro-finance units which have come here are in "deep country" while adding "that in those areas there is still demand and they are extending loans."
"All of them clearly voiced a positive growth which is a good encouraging story," Sitharaman said after meeting private sector banks, non-banking financial companies (NBFCs) and Housing finance companies.
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