Bengal hopes to increase credit-deposit ratio to 70 percent
The West Bengal government has set a target to raise the state's credit-deposit ratio to 70 percent by the end of fiscal 2013-14 as against the present figure of 66 percent, Finance Minister Amit Mitra said here Monday.
Briefing reporters after the State Level Bankers' Committee meeting, Mitra said the government hoped the state's credit deposit ratio to overtake the national figure of 73 percent very soon.
"Now the credit deposit ratio of 66 percent. Our target is to take it to 70 percent by March, 2014. The average credit deposit (CD) ratio at the national level is 73 percent and we hope to surpass it soon," he said.
The state government has laid special emphasis on nine districts where the CD ratio is now around 40 percent.
Mitra said he has appealed to the banks to up the ante to make available loans to self-help groups. Despite the target of making loans available to 1.5 lakh units, only 33,299 units have got credit so far this fiscal.
The minister also called upon the banks to reach the target of 12 lakh Kisan Credit Cards by March next year. So far the banks have issued six lakh KCCs involving an amount of Rs.3,474 crore.
The state government plans to come up with similar cards providing credit facilities to weavers and artisans of the state. "The banks have promised to help," he said.
Urging banks to open up branches in un-banked gram panchayats, the minister proposed the banks set up units at the panchayat offices, to cut infrastructural cost.
There are 849 unbanked gram panchayats in the state now.
(Posted on 24-12-2013)