United Commercial Bank

United Commercial Bank THE CHAIRMAN of the United Commercial Bank, I P Goenka, feels that central bank credit at bank rate should be more freely available to meet the increased demand of finance from industry. He has stated at the Bank's annual general meeting recently that the demand for finance from industry would grow continuously. The 'liberalised' system for securing central bank credit in fact operates to deter banks from such borrowings to the extent that quite often they have to deny finance for industrial production. He has said that the current busy season has few weeks to go and if in that period the productive apparatus is not to suffer a breakdown, an intimation by the monetary authorities that central credit at Bank rate will be available more freely and in ampler measure is essential.