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The issue of passing on the benefit of rate cut was also discussed, with the Windproof lighters for sale PSU banks noting that their base lending rates had been reduced consequent upon the rate reduction announced by the Reserve Bank. Some of them have been examined by the Department of Revenue,” he said. “The economy is gradually picking up and therefore as demand picks up, certainly that off take (loan growth) itself will also pick up,” said the finance minister after a review meeting with PSU bank chiefs. Arun Jaitley addressing media at RBI Building in New Delhi on Monday. Therefore, in such circumstances, it would not be appropriate to sells such stocks in the market. On disinvestment, Mr Jaitley said, “I have already said (that) there are few stocks, especially metal stocks, which are down globally. With eight months of the current fiscal about to be over, the government has been able to sell stake only in four companies — PFC, REC, Dredging Corp and IOC — to net Rs 12,600 crore. He said that the government is considering “proactive steps” to improve the health of steel and aluminium sectors which are reeling under the impact of decline in global prices.”

The government has budgeted to raise Rs 69,500 crore through disinvestment in 2015-16. “Several suggestion have been offered by the bankers in relation to both steel and aluminium. (Photo: PTI) Finance minister Arun Jaitley on Monday said that bank credit growth is expected to pick up as economy is gradually moving up.. We will sell such stocks after market condition improves. Mr Jaitley said that government will sell stake in some state-owned companies, especially those in metals business, only when market conditions improve.Finance minister Arun Jaitley on Monday said that bank credit growth is expected to pick up as economy is gradually moving up.