India Finance Minister to Help Property Developers

As India's real estate industry faces one of its worst slowdowns, the government says it will urge banks to accelerate lending to developers

Finance minister P Chidambaram assured real estate developers that government will impress upon banks to accelerate lending to realty, which is facing one of the worst slowdown in the recent times. A delegation of builders under the Confederation of Real Estate developers' Association of India (CREDAI), met Chidambaram on Wednesday to complain against banks' reluctance to disburse loans to the real estate companies.

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