Present slowdown should last till September: Ramanathan

CHENNAI: India is likely to recover from the current slowdown after September as a host of steps taken by the government will help improve liquidity in the system by then, a top government official said here on Saturday.

"The present slowdown in the country should be there till September," Union Finance Secretary Arun Ramanathan told reporters here on the sidelines of a seminar on 'Consumer Issues in Housing and Housing Finance', jointly organised by Consumer Association of India, National Housing Bank and Indian Banks Association.

"The government has implemented various measures on increasing the liquidity," he said.

Earlier in his inaugural address, he said there should be clarity of details by applicants while approaching the banks for housing loan.

The Secretary also advised the consumers to have more knowledge on procedures involved in getting housing loans.

"The National Housing Bank has come up with a lot of guidelines on the matter," he said.

Earlier, Indian Bank Chairman and Managing Director M S Sundararajan in his address said banks have reduced the procedures for getting home loans.