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This is an archive article published on February 20, 2009

Banks still averse to lending: Trade Secy

The RBI has cut its lending rate by 350 basis points and taken a series of steps to infuse liquidity.

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Banks are still averse to stepping up loan disbursement despite adequate liquidity,the trade secretary said on Thursday.

G.K. Pillai also said he expected a pick up in growth in the the commercial vehicles segment between March and May.

Since October,the Reserve Bank has cut its key lending rate by 350 basis points and taken a series of steps to infuse liquidity to help industry ward off the global slump.

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