Investors’ money in banks is safe: Pranab
By IANSTuesday, November 30, 2010
NEW DELHI - Stating that investors’ money in banks was safe, Finance Minister Pranab Mukherjee said Tuesday that the government would take appropriate action if it finds any irregularities in the disbursement of loans by financial institutions.
“There is no need to press the panic button. I am in touch with the RBI governor and LIC on the matter,” Mukherjee told reporters on the sidelines of a conference on ‘Economic Policies for Inclusive Development’ here.
“Money of the investors in these institutions is safe and all the appropriate measures will be taken,” he said without specifying what action would be taken.
“It is not possible for me to give details as of now,” the minister said.
The CBI arrested senior officials of LIC Housing Finance, LIC, Bank of India, Central Bank of India and Punjab National Bank last week Wednesday for allegedly accepting bribes to extend loans to corporate houses in a housing finance scam.
