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Clarification sought on minority credit

Special Correspondent

Earmarking of percentage of bank credit to minorities

NEW DELHI : Communist Party of India (Marxist) Polit Bureau member Brinda Karat on Thursday asked Finance Minister P. Chidambaram to explain why the Government was not earmarking any percentage of bank credit to minorities.

Referring to Mr. Chidambaram's response in the Rajya Sabha to her question on the target of priority lending for minority communities, she said the Minister had said the Government had not earmarked any percentage.

"I understand that in a communication in November 2006, the Principal Secretary to the Prime Minister advised the Secretary Financial Sector under your Ministry that in accordance with the Cabinet approval dated 22-6-2006 to the PM's 15-point programme for the welfare of minorities it should be ensured that 15 per cent of priority sector lending in all categories is earmarked for minorities."

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