Home > News > West Bengal News

Need for expansion of banking services: Subbah Rao

Posted on Dec 06, 09:06PM | UNI

RBI Governor D Subba Rao today met West Bengal Chief Minister Mamata Banerjee at Writers' Buildings and stressed for expansion of banking service in the state.

After their meeting, Finance Minister Amit Mitra told reporters that Mr Rao advocated for completing the bank loan target for different sectors and expanding the service in the villages.

"Out of 37,000 villages in the state, 27,767 do not have any bank branch and the RBI Governor urged to speed up the process for setting up those in such villages," Mr Mitra observed.

He said referring to the bank loan target for agriculture, Mr Rao pointed out that 29 per cent of the target had been fulfilled in the state and called for 'completion' of the rest.

Talking about the self-help groups, he said, the RBI Governor informed that out of 11,16,000 self-help groups in the state 9,69,000 were getting bank finance.

Mr Rao also called for bettering the credit deposit ratio in the state from 65 per cent to 68 per cent as in some states the figure had increased to 74 per cent, Mr Mitra added.