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Name : Akhilesh Goyal
Subject: Budget 2004 and Banking
Message : A positive news for the banking and financial services sector is strengthening of the SARFAESI and DRT Acts for speedier recovery of non-performing assets (NPAs). The decision to amend the SARFAESI Act to incorporate judicial concerns, while speeding up the recovery efforts of the lenders, is a positive move for the banking system.

But, increased funding to agriculture credit as well as infrastructure would certainly bring in more NPAs.

Further, no change in FDI/FII norms and voting rights, has been a major disappointment.


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