Chief Minister Yogi Adityanath has urged banks to elevate the credit-deposit (CD) ratio to give impetus to entrepreneurial efforts and development works.

Emphasising the importance of combining government schemes with training and extending loans to entrepreneurs, businessmen, youth, women, and farmers, Chief Minister Yogi said that it would accelerate the development process, leading to sustained growth in the bank’s deposited capital.

Addressing a function organised to commemorate the completion of 100 years of the Gorakhpur branch of the State Bank of India located on Bank Road, Chief Minister Yogi Adityanath said that when this branch was established on October 15, 1923, the population of Gorakhpur city was under 50,000 and today, the municipal corporation area alone was home to a population of 15-20 lakh, while in the entire district, the population stood at around 70 lakh.

Over this period, industries have witnessed rapid growth in Gorakhpur, particularly in the last six years. The city now boasts world-class infrastructure and new industries are continually emerging, he pointed out.

“When banks play a supportive role, the entrepreneurial process advances more rapidly, contributing to economic development and progress,” Chief Minister Yogi said.

The chief minister noted that presently, the State Bank of India has a deposited capital of over Rs 11,500 crore in the Gorakhpur area, with loans disbursed amounting to Rs 4,500 crore. If the credit-deposit (CD) ratio reaches 60 per cent, the deposited capital can potentially grow to Rs 25,000 crore. This expansion will also enhance the bank’s capacity for social initiatives and community development, he added.

He further underlined the pivotal role that banks can play in fostering employment opportunities by providing loans along with training under government schemes like Mudra Yojana, ODOP, Startup, Standup, Vishwakarma Shram Samman and PM Vishwakarma Yojana.

Chief Minister Yogi said that after 2014, there had been revolutionary changes in the banking sector. “Prime Minister Narendra Modi has made arrangements for corruption-free DBT by opening Jan Dhan accounts and linking them with Aadhaar. Additionally, the best payment gateway like UPI is also a contribution of India,” he pointed out.

The banks have played a crucial role in disbursing benefits to the citizens, including transferring PM Kisan Samman Nidhi payments to 2.62 crore farmers, providing Rs 1,100 to 1.91 crore primary school children parents’ accounts for textbooks and uniforms along with delivering a monthly pension of Rs 1,000 to one crore beneficiaries, he pointed out.

Even during the COVID-19 pandemic, banks demonstrated their commitment to the nation by facilitating the transfer of essential allowances, even on holidays, he added.

Chief Minister Yogi Adityanath said that the first day of the Shardiya Navratri and the completion of 100 years of the State Bank of India Gorakhpur branch was not just a coincidence but a divine grace. Over the course of a century, this bank branch has played a pivotal role as a development partner in the region, he added.

The chief minister discussed the journey of progress of the State Bank of India and commended the bank for its remarkable achievements and records.

Furthermore, he urged the mayor present in the programme to consider transforming the old municipal building into a museum, similar to this esteemed bank branch.

During the event, Chief Minister Yogi Adityanath visited the heritage gallery of the State Bank of India’s Gorakhpur branch and promoted environmental protection by planting saplings on the campus. He also presented a loan cheque to an entrepreneur.

 Additionally, he presented Rs 8 lakh each from the bank’s CSR fund to two PHCs and Rs 5 lakh each for the establishment of smart classes in two primary schools. Furthermore, loans were extended to a women’s self-help group and under the Stand-Up India Scheme. Two female bank employees were also honoured by the chief minister on the occasion.

MP Ravi Kishan Shukla also addressed the function. The welcome address was delivered by Anand Vikram, General Manager of the State Bank of India. On this occasion, Mayor Dr Manglesh Srivastava, MLA Mahendrapal Singh, Pradeep Shukla, MLC Dr Dharmendra Singh, Deputy General Manager of the State Bank of India Sanjeev Kumar, metropolitan president of BJP Rajesh Gupta and others were present.