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Govt upset over banks’ report card
State Government Departments dealing, especially with primary sectors have expressed their concern over lower indices in terms of bank advances. Mainly below than the benchmark credit-deposit ratio (CD), dismal show on agriculture finances and also not so good performance in terms of MSMEs have caught the bankers on wrong foot.
“The issues related to agriculture loan, advances under Mudra loan scheme and Standup India and Startup India would be reviewed in the Tuesday meeting of the SLBC (State Level Bankers’ Committee). We have told the banks to pull up their shocks in the earlier meetings as well. They had been given certain targets in that direction which would be examined,” said a senior official of the Institutional Finance Department.
Facts remain that deposits in banks have seen a considerable rise of 12.5 per cent between September 2016 and 2017 going up from Rs 168852.39 crore to Rs 189992.80 crore. Considered as barometer of financial involvement of the banking sector, CD ratio, has also come down from 46.93 in 2015 to 43.56 in 2017 for commercial banks and from 44 to 40 for public sector banks.
An official from the Agriculture Department said that several cases of declining finance to the farmers have reached to him. “People come complaining about unfriendly attitude of the banks in sanctioning farm loan. Since the Government is offering loans to as low as one per cent interest after waivers, the farmers of the State are not getting full benefits of the schemes,” he said. No different is the performance of loans under Mudra scheme and the likes generating self-employment.
However, the bankers sounded confident in calling the shots. “We know there is lot more scope for improvement. Several activities in the field of holding camps for generating awareness and disbursing loans are taking place. There are certain areas in which the Government also needs to work so that our loan recovery process can become smooth and our NPA does not grow further,” said a senior manager of Allahabad Bank.
Agriculture sector loan remained 17.82 per cent, 17.06 per cent and 15.76 per cent during 2015, 2016 and 2017 respectively which is below the national average and even from the benchmark set by the Reserve Bank of India. MSME sector in the State is also facing similar financial distress like situation where 55.69 per cent of total advances have gone to it against the bench mark 60 per cent. Advances under Standup India scheme is insufficient with about 14 SCs and 78 STs getting loans.
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