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Saturday, April 20, 2024

Target of CD ratio should be 65 pc next year: Yogi


Chief Minister Yogi Adityanath on Wednesday expressed his satisfaction with the state’s current credit-deposit (CD) ratio of 58.59 percent, setting a goal to increase it to 65 percent in the next financial year.

The CM assured to provide all necessary support and security to facilitate this growth for banks.

He emphasised the importance of adopting a mission-driven approach to expand digital banking and financial literacy across all 75 districts.

Reviewing the quarter of the current financial year ending December 2023 in the meeting of the State Level Bankers Committee, he said, “Banks have played a commendable role in our efforts to provide financial incentives in the form of loans to every needy and energetic youth. This sequence of loan fairs should continue further. Do not hesitate in extending loans.”

Yogi said, “In each of its schemes, the government will ensure training and capacity building of the beneficiaries before providing loans.”

Referring to the state government’s ambitious scheme ‘Family ID’, he said that all the banks should provide complete data of beneficiaries of central and state government schemes so that the situation of every family in the state can be accurately assessed.

The CM also reviewed the progress of key social security programs, including the Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and Pradhan Mantri Jan Dhan Yojana. He highlighted that, in alignment with the Prime Minister’s vision, the state has been successful in ensuring that every citizen benefits from these crucial social security schemes.

He praised the ‘One GP-One BC’ (One Gram Panchayat-One Banking Correspondent Sakhi) initiative for its significant contribution to financial inclusion. He encouraged banks to offer additional incentives to BC Sakhis, acknowledging their pivotal role in empowering women and fostering self-reliance, thereby setting a sterling example of financial inclusion.

Yogi addressed the recent challenges faced by BC Sakhis due to issues with the Paytm Payment Bank. He stressed the importance of quickly resolving these issues.

He also called for enhancing CCTV coverage for bolstering bank security and ensuring seamless access to CCTV footage for law enforcement as needed.

He noted the significant growth of the banking sector in the state, with the business expanding from Rs 12.80 lakh crore in 2016-17 to over Rs 26.80 lakh crore presently, expressing optimism for the future.

As part of the event, the CM distributed the state’s share to Baroda-UP Gramin Bank and Aryavart Gramin Bank, 1.10 lakh Kisan Credit Cards, launched 1,111 new banking outlets, and provided tool kits to 10 BC Sakhis.

Chief General Manager of the Reserve Bank of India Nisha Nambiar also had a special presence at the meeting. She emphasised the expansion of digital banking.

The CM also gave instructions to hold the meeting of the Bankers’ Committee at the state level under the chairmanship of the Chief Secretary every three months and in the district every month.

On this occasion, the HDFC Bank was presented with a certificate for the adoption of 150 Vantangiya villages under the Comprehensive Rural Development Program. The bank will construct 75 smart classes as well as carry out many development projects in these villages.

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