Jharkhand's credit-deposit ratio rises to 60.92 per cent

Jharkhand's credit-deposit (CD) ratio has increased to 60.92 per cent in nine months ending December 2017, up 2.72 per cent from the corresponding period last year, according to a state government release.

Jharkhand’s Development Commissioner Amit Khare attributed the growth to continuous coordination meetings between the state government and the banks last year.

The release also quoted him as saying that Chief Minister Raghubar Das's special meeting with bankers in Dumka and a Mega Loan Camp had resulted in the growth.

Both bank deposits and bank loans have increased in the state and the priority sector advance has increased to 54.96 per cent from 54.07 per cent, the release said.

Khare also said that remarkable success has been registered in Pradhan Mantri Mudra Yojana (PMMY) and Sikhsha Ruun Yojana (education loan scheme).

Under the PMMY, loans worth Rs 2,141 crore were distributed to 2,19,769 people in the April-December period of the current fiscal, Khare said.

Similarly, under the education loan, the banks have given Rs 467.33 crore to 12,133 students in this fiscal, which is 10 per cent more than the previous fiscal, he said in the release.

The developmental commissioner, who chaired the state level Bankers. Coordination Committee meeting, asked the banks to increase agriculture loan to double the income of the farmers and connect ‘Mahila Sakhi Mandal’ with loans.

According to bank passbook records, so far 1,59,637 self help groups (SHGs) have savings accounts of which 1,07,590 pass books have credit linkage and Rs 824.63 crore has been approved, the release said.