Uttar Pradesh Chief Minister Yogi Adityanath expressed his satisfaction with the state’s current credit-deposit (CD) ratio at 58.59 per cent.

UP has set an ambitious target of taking this ratio to 65 per cent in the next financial year.

The chief minister said that he was committed to offering 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 fiscal ending December 2023 in the meeting of the State Level Bankers Committee on Wednesday, the chief minister 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.”

In each of its schemes, the government will ensure training and capacity building of the beneficiaries before providing loans, he added.

Referring to the state government’s ambitious scheme ‘Family ID’ scheme, 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 could be accurately assessed.

The chief minister also reviewed the progress of key social security programmes, 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.

In the meeting, the chief minister lauded 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 Adityanath also 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.

Chief Minister Yogi Adityanath 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 chief minister 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.

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

The chief minister also gave instructions to hold the meeting of the Bankers’ Committee at the state level under the chairmanship of the UP chief secretary every three months and in the district every month.

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

How the financial situation improved:

● In 2016-17, a total loan of Rs 1,37,452 crore was distributed by banks in the state whereas a total loan of Rs 3,00,430 crore was given in 2022-23. By December 2023, loans totaling Rs 2,98,551 crore had already been disbursed.

●2,42,097 new banking outlets established over a span of seven years.

● In seven years, 167 lakh new beneficiaries were added under Pradhan Mantri Jeevan Jyoti Bima Yojana.

● In seven years, 459 lakh new beneficiaries were added under the Pradhan Mantri Suraksha Bima Yojana.

● Uttar Pradesh has emerged as a leader in various centrally funded social security schemes.