news details |
|
|
| Rather for improving CDRs of banks | | | EARLY TIMES REPORT
Srinagar, July 8 : The Finance Minister Mr. Abdul Rahim Rather has enjoined upon the banks functioning in the state to improve Credit Deposit Ratio (CDR) which at present is barely 45.85% against the national benchmark of 70.0%. He said low CDR results in flight of capital which hampers economic growth in the State. "Addressing the problem of low CDR of the banking sector and the access to cheap and hassle- free credit is indeed a key for growth of any developing economy," Mr. Rather said while speaking, on behalf of the J&K Chief Minister, Mr. Omar Abdullah, at the meeting of Chief Ministers' of North Zone states of the country held at Chandigarh recently. The meeting of the Chief Ministers' of North zone states' of the country was convened by the union Finance Minister, Mr. Pranab Mukherjee to review performance of Banks and financial institutions working across the country.
Besides, senior functionaries of the Union Finance Ministry, the meeting was also attended by the Union Minister of State for Finance, Governor Punjab Mr. Shivraj Patil and Chief Ministers' of North Zone states including Himachal Pradesh, Haryana and Uttaranchal.
Maintaining that Jammu and Kashmir has enough potential to emerge as a strong economy, Mr. Rather asked the Financial Institutions and Nationalized banks to come forward to expand both quantum of credit and its reach so that a vast majority of rural populace which continues to remain deprived of means due to extremely difficult terrain and non availability of hassle free credit facilities, could be benefitted and ensuring their participation in Financial Inclusion Plan. Expressing concern over the unsatisfactory performance of some banks in achieving the targets about Credit to priority sector, Mr. Rather said that J&K Bank is comparatively doing well in extending Credit under numerous schemes of RBI followed by SBI and PNB. "A major area of concern is flow of low credit to agriculture and allied sectors, Mr. Rather said adding that, the banks in the state have not been able to achieve the mandatory 18% credit to agriculture sector which offers unprecedented scope and opportunities to give a push to State's development efforts and in turn its economy,". |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
