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9, December 2006 Pragati Maidan, New Delhi.
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“We are seeing flattening of credit in general”, said Sanjay Nayar, chief executive officer, Citigroup-India. “On consumer side, there is impact on mortgages and personal loans because these are price sensitive area. But the corporates especially large are still going for the external commercial borrowings (ECBs) way”, he explained. At the same the credit demand form small and medium corporates have picked up for meeting their both working capital and term loan requirements, he added. When asked about the Reserve Bank of India’s planned phase-wise opening of Indian banking system to foreign banks he said the rules are not clear in terms of free branching.
Date: 16-Mar-2007
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