Ranking index for banks to boost lending performance: Dy CM
Banks getting less than 40 marks on the index will be deprived of state schemes and govt deposits, he said.
"This is like an alarm for the banks. Only those banks which score a minimum of 40 marks on this index will be included in the state govt schemes and only they will be allowed to accept govt deposits and do banking transactions with public sector undertakings, authorities and societies," said Samrat, who is also the finance minister of the state.
This index has been prepared on the basis of banking performance—achievement of the target of annual credit plan, increase in credit-deposit ratio, loan distribution in priority sectors like agriculture, animal husbandry, fisheries etc., loan availability to self-help groups, and participation in govt schemes like Mudra Yojana, Kisan Credit Card, PMEGP etc, he said.
The deputy CM said the role of banks is important in the economic development of the state. "Their work is not limited to keeping the savings safe but it also strengthens the economic pace of the state. By providing loans in agriculture, industry, trade, service, education and other sectors, banks also help in creating employment opportunities. Keeping in mind this important role of banks, a target for credit receipt is fixed for them under the Annual Credit Plan through the State Level Bankers Committee at the beginning of the financial year," he said.
He further said during the FY 2024-25, most of the banks failed to achieve these targets. "The credit-deposit ratio of the state is also currently lower than the national average," Samrat said.
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