TIL Desk/Business/Mumbai/ Union Road Transport and Highway Minister Nitin Gadkari has lashed out at banks saying they are not making financial closures for infrastructure projects worth Rs 2 lakh crore despite a “golden opportunity” and blamed the Reserve Bank for creating “more complications”.
“One problem presently I am facing is — We have at least 150 projects with cost involvement of Rs 2 lakh crore. The financial closures in the banks is becoming a very tough thing for the investor,” he said at the ET Awards for Corporate Excellence.
The Minister flagged the funding problem a day before the Reserve Bank of India (RBI) is to hold its board meeting in the backdrop of a tiff with the central government on several issues including a liquidity crunch and placement of limits on extension of loans on some banks.
“It is the appropriate time for the Reserve Bank to support infrastructure in the country as far as growth rate is concerned. But many times the circulars issued by the Reserve Bank are creating more complications,” the Minister said.
