The Hindu Business Line : ‘Inflationary pressure due to rising crude’

Speaking on the occasion, he said that the rising price of crude oil at the international level was causing inflationary pressures in the country. The prices in most countries have been on an upward spiral. While the Government has taken a number of steps to bring the rates down, people should be patient as it will take time to see productive results, he said.

Despite the threatening situation, the Central Government has increased the minimum support price for paddy from Rs 745 to Rs 850 a quintal. During the rule of the UPA government, the total increase for paddy has been Rs 195. The government has been giving top priority to agriculture, he added.

Mr Chidambaram referred to the Corporation Bank as one of the fastest growing banks in the country, and commended its growth in the last four years.

Mr B. Sambamurthy, Chairman and Managing Director, Corporation Bank, speaking earlier, said that the total volume of business of the bank was around Rs 95,000 crore and the net non-performing asset of the bank stood at just 0.32 per cent.

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