Finance min urges banks to ramp up lending in J'khand
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Ranchi: Finance minister Radha Krishana Kishore on Tuesday expressed concern over the slow improvement in the credit deposit (CD) ratio of the state, adding that at this pace, it would take around one and a half decades to reach the national average.
It may be stated here that during the 92nd state-level bankers' committee (SLBC) meeting held at Project Bhawan, the officials informed that the CD ratio reached 51.32% as of June 30, 2025, compared to 49.57% last year. The deposits amounted to Rs 3,69,098 crore, while the advances were Rs 1,89,436 crore.
Addressing the meeting, the finance minister said, "The CD ratio was 50.68% on March 31, 2025. It grew by 0.64% in the last three months.
With this increment, it would take at least 15 years to reach the national average of 77%."
He also stated that apart from agriculture, lending by banks has made significant progress in various sectors but not at the desired level. He added that banks should also focus on improving the CD ratio in areas with low per capita income. He said that bankers should review which banks are poor in lending to the weaker sections. Kishore said banks must also know whether the loans sanctioned by them are being properly utilised or not.
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"Banks must provide details about the manner of spending their corporate social responsibility fund. I have come to know that in a district, it was used for putting up ceiling fans in the police line. The money should be used for the construction of infrastructure," he added.
Kishore said he would talk to officials about setting up parameters so that the banks working the most in the social sector would get the govt deposits.
Speaking to media, he stated that the problems in the acquisition of land for industries due to the Santhal Paragana Act and the Chhotanagpur Tenancy Act have prevented the capitalists from coming here, which in turn has affected the CD ratio.
Agriculture minister Shilpi Neha Tirkey said, "At present, banks have sanctioned Rs 13 lakh kisan credit card loans against the target of Rs 25 lakh this financial year. She said, "Banks have been instructed to provide loans as soon as possible in view of the negative impact on farmers due to the excessive rainfall. Instructions have also been issued to banks to point out various loopholes in the implementation of the Guruji Credit Card scheme so that changes can be made in plan.
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