January 05, 2008
Expressing his concern on the living standard of the urban
poor, the Finance Minister, MR. P Chidambaram has asked banks
to provide loans to the urban poor, whose conditions are worse
than their rural counterparts.
Speaking on the same Mr. Chidambaram said that the conditions
of Urban poor are worse off than the rural poor. They may have
slightly larger income, but on the parameters of space, sanitation,
drinking water, air, their conditions are much worse than the
rural poor.
He also appealed the banks to be more liberal while extending
loans to urban poor for education, housing, consumer goods and
medical needs, considering that their repayment record is much
better than other categories of borrowers.