Jharkhand’s banks are doing well: CS Sahay

| | Ranchi
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Jharkhand’s banks are doing well: CS Sahay

Wednesday, 21 August 2019 | Mrituanjay Kumar | Ranchi

Addressing the 68th quarterly State Level Banking Committee (SLBC) meeting on Tuesday as convenor of SLBC and Bank of India (BoI) General Manager of Jharkhand and Chhattisgarh, CS Sahay said that in last three months the performance of all the banks have been good in the State. He pointed out that the role of Lead District Manager (LDM) has been very important in achieving this.

“In last three months, 80 thousand farmers of the State got the benefit of Kisan Credit Card (KCC), and all banks are performing well in Mudra Loan. A total of 7816 Self Help Groups have been given credit linkages,” he said.

However Sahay pointed out that it is matter of concern to see a drop in Credit Deposit (CD) ratio from 60 per cent to 56 per cent and there is a need to work hard to bring improvement in this area. “All banks should work in well coordinated manner to improve CD ratio. There is also a need to work hard on the area of bank’s recovery. In the area of agricultural loans, the banks should follow the guidelines of Reserve Bank of India,” he said.

Speaking on the occasion, Principal Secretary, Rural Works Department, Avinash Kumar said that there is a need to bring changes in work culture in banking system. “They should work according to the requirement policy. The Government Banks works according to their policy but there is need to improve it.

The banks should identify capacity of their customers through KYC process after that they should sanction loan to them. Our Prime Minister wants to boost Indian economy in which role of banks is very important,” he said.

Addressing the gathering on the occasion Joint Secretary, Government of India Department of Financial Services, Madnesh Kumar Mishra said that there is immense potential in Jharkhand for development. “There is a huge possibility in the State for the schemes like Mudra and Stand Up and banks should emphasis on them.

Various fields in banking sector witnessed improvement but there is still a need to do hard work to bring improvement several other areas.

There is a need to improve the situation in the field of education

 loan and LDMs should work in a well coordinated

manner to improve it,” he said.

Meanwhile, Finance Secretary, Government of Jharkhand, KK Khandelwal said that drop in CD ratio is a matter of concern.

He appealed to all the banks to work hard on KCC distribution and

suggested that the banks should start a drive on block levels to accelerate distribution of KCC.

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