Rediff.com  » Business » US financial woes: FM soothes frayed nerves

US financial woes: FM soothes frayed nerves

Source: PTI
September 18, 2008 13:52 IST
Get Rediff News in your Inbox:

Finance Minister P Chidambaram on Thursday said that there was no cause for concern for any public sector banks as they are not exposed to the US financial crisis.

He also had some good news for those who have Tata AIG policies when he said that the Tatas have assured insurance regulator IRDA that all payment obligations will be met.

US subprime crisis spooks global economy

In a cautious note he added that there could, however, be some tightening in credit supply due to global financial developments.

Speaking on India's economy, the finance minister said that India's GDP growth will remain close to 8 per cent in the current fiscal.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2023 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!