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State tells banks to catch big fish to recover bad debt
The State Government has categorically directed bankers to go after some big borrowers in order to recover their bad debt and in the process send out a strong message down the lines for the others. The go-ahead has come when gross non-performing assets of the banks in Jharkhand has accumulated to alarming 5.94 per cent.
The direction in this regard came during 62nd State Level Bankers’ Committee (SLBC) meeting on Tuesday which also saw scrutiny of various other schemes being run by the Centre and the State in Jharkhand.
“I am worried about the growing NPAs of the banks. For that the Sarfaesi Act is in place. What you should do that to focus on two-three big defaulters in every district and act against them as per the rules. This would send out a strong and clear message to other borrowers,” said Development Commissioner Amit Khare.
As per the figures up to the year ended in December 2017, gross NPA in the State has reached Rs 4992.87 crore, i.e. 5.94 per cent of the total lending. Rise in credit on year to year basis has been Rs 5190.72 crore at 6.58 per cent which is contributing to the NPA.
At the same time, the Development Commissioner while referring to the sync found in both the budgets presented first by the State and later by the Centre during last one month time said that combined focus was on doubling the income of farmers and rural populace.
“Doubling income of villagers and farmers has been the focus area of the Governments. This needs allied activities such as animal husbandry, fishery, poultry, cottage industries growing besides, agricultural activities. Women SHGs in the form of Sakhi Mandals have to play a role into all this and they need bank loan. This is the area where we are working,” added Khare in the presence of Additional Chief Secretary, Finance, Sukhdev Singh and Secretary, Financial Institutions Satyendra Singh.
Presenting a solution to the demanding chain, especially in the light of hesitant institutional lenders, the top official said that the Government had come up with certain decisions like directly purchasing the items produced by Sakhi Mandals.
“The Chief Minister recently said that items like sanitary napkins, eggs, blankets, curtains etc would be bought by the Government Departments from the Sakhi Mandals.
We would ensure that first the Government repays the loans to banks taken by them and then the rest is given to the SHGs. This would be a kind of tripartite agreement,” he said.
In the meeting, the banks were also told about Government approving the building bylaws which would make financing of homes even in rural areas easy and the presidential assent secured for appointing dedicated certificate officers.
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