Putin refuses to rest until Russian banks fall in line

Calcutta News.Net
Wednesday 1st July, 2009

Banks in Russia have been told to increase lending by $16 billion this year to combat the sluggish economy.

Russian Prime Minister Vladimir Putin has asked the heads of financial institutions to improve lending rates.

He has said he will not take holidays until banks increase lending and start to take more risks.

Loan defaults in Russia have recently reached 6 percent.

Have your say on this story