Banks should make a concerted effort to increase linkages with the Self Help Groups (SHG) in the State of Uttarakhand so that the benefit of finance is available to them, said Additional Chief Secretary, Ranbir Singh while addressing 57th meeting of State level bankers committee here on Thursday. He said that the by providing loans to these groups the rural economy of the State could be strengthened. Singh added that the agencies like National Bank for Agriculture and Rural Development (NABARD) should provide a robust marketing support to the SHGs. He said that the aim of financial inclusion is to provide banking facility to every citizen.
The Secretary Finance, Amit Singh Negi that the banks should focus on increasing Credit: Deposit (CD) ratio in the mountainous areas of the State.
The General Manager of State Bank of India (SBI), B K Das informed that CD ratio of the banks of the state is 59 Perc ent which is slightly below the national average. He said that the banks have taken up a target of distribute loans worth Rs 16384.82 Crores in the financial year 2016-17.
Das said that the banks cleared loans worth Rs 12973 Crores in the month of March 2016 which was 89 percent of the targeted Rs 14524 Crores. Informing about Prime Minister’s ‘Mudra’ scheme, he said that the banks provided loans worth RS 1386 Crores last year against a target of Rs 1728 Crores.
The General Manager, NABARD, DN Magar informed that linkages with 1641 SHGs were done with the help of 4984 SHG camps organised by the banks from March 01 to 20 this year. He added that the priority was accorded to women SHGs in providing loans.
The Rural development ministry had directed that all rural and semi urban bank branches should mandatorily conduct four camps with the help of NABARD. Magar said that under the restructured weather based crop insurance scheme, it is mandatory that crop insurance of all eligible farmers should be done.
The General Manager Reserve Bank of India (RBI), KS Jyotsana said the 13 Financial literacy Cells (FlCs) are working in the state and the regional rural banks and commercial banks should take their help in organising at least one Financial literacy camp in the village of their choice so that the awareness about the financial services is created in rural areas. She informed that 100195 people were provided financial literacy in 7350 camps organised last year.
In his thanks giving speech the Deputy General Manager SBI, M B Diwakar said that the banks of the state are always ready to cooperate in holistic development of the state.