When banks in Jharkhand are already facing the ire of the Government for a poor show on CD ratio front which has came down below the benchmark set nationally, the Centre now has also expressed disbelief over the data presented into public domain.
Parliament on August 11, Tuesday expressed doubt over even the existing figures of CD ratio, which sets the pulse of the banks on deposit and lending performances. The figures of 59.46 per cent looks unrealistic and it also concerned the banks as it was brought into light in 56th meeting of SlBC. Bankers all across admitted that there were mismatches among their facts and figures.
“It has come into light and there is disparity in the figures of the CD ratio presented in the State. In fact, we in a sub-committee meeting have discussed it. Data should be thoroughly verified and checked by respective controlling heads of the banks as we are witnessing a big mismatch,” said a top official of Bank of India, the convenor bank of the SlBC in the State.
This prompted RBI’s Regional Director MK Verma to tell the banks to take a precaution before releasing the data. “There has been consistent decline in CD ratio figures over the last one year. It is high time to correct the data collection system in place as it is a matter of serious concern that wrong figures are into circulation,” Verma said.
The issue has even been conveyed to the bankers by the Department of Financial Services, GoI in which it has expressed its concern on the over reporting. Advances to farming have seen a decline which is now 17.52 per cent of total loans of the bank and has went down from the 18 per cent benchmark. The DFS has pointed fingers on this as well since despite lowering lending to priority sector the State has maintained near satisfactory CD ratio figure till not far ago.