Take UP’s CD ratio up to 65%, Yogi tells banks - Hindustan Times
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Take UP’s CD ratio up to 65%, Yogi tells banks

Feb 22, 2024 06:06 AM IST

He said the state government would offer all necessary support and security to the banks to facilitate this growth and laid emphasis on importance of adopting a mission-driven approach to expand digital banking and financial literacy across all 75 districts

LUCKNOW Expressing satisfaction over the state’s current credit-deposit (CD) ratio of 58.59%, chief minister Yogi Adityanath on Wednesday asked banks to take this figure up to 65% in the next financial year.

Adityanath was presiding over the State Level Bankers’ Committee meeting here on Wednesday. (File Photo)
Adityanath was presiding over the State Level Bankers’ Committee meeting here on Wednesday. (File Photo)

He said the state government would offer all necessary support and security to the banks to facilitate this growth. He laid emphasis on the importance of adopting a mission-driven approach to expand digital banking and financial literacy across all 75 districts.

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Adityanath was presiding over the State Level Bankers’ Committee meeting here on Wednesday. “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,” he said.

He said the state government will ensure training and capacity building of the beneficiaries before providing loans. Referring to the state government’s ‘Family ID’ scheme, he said all banks should provide complete data of beneficiaries of central and state government schemes so that the situation of every family in the state can be assessed accurately.

The CM 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 said in alignment with the Prime Minister Narendra Modi’s vision, the state has been successful in ensuring that every citizen benefits from these crucial social security schemes.

He 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.

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 business expanding from 12.80 lakh crore in 2016-17 to over 26.80 lakh crore at present, expressing optimism for the future.

Reserve Bank of India CGM Nisha Nambiar, who was present at the meeting, laid emphasis on expansion of digital banking. On this occasion, HDFC Bank was presented 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 development works in these villages.

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