Left, government discuss banking reforms

NEW DELHI: Left parties and UPA government on Wednesday exchanged views on major economic issues including banking sector reforms with the former insisting on consolidation on rural credit and protection of jobs.

"There was a general exchange of views on the working of the government and the implementaion of the programmes under the Common Minimum programme," Finance Minister P Chidambarm said after the 90-minute meeting of Left leaders, Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi.

"There was general satisfation that the rate of inflation had gone down to 5.7 per cent as on January one this year compared to 6.4 in the corresponding period last year, he said.

On the banking sector reforms, the Finance Minister said there is still "no roadmap" to undertake the exercise but the Left parties wanted that the Indian banks be protected from predatory take overs and there should be no loss of jobs.

While CPI(M) leader Sitaram Yechury said the rural credit target was over 1 lakh crore Chidambarm exuded confidence that the target will be exceeded.