Adityanath hints at low credit formation, asks banks to improve CD ratio

UP's CD ratio stands at 57% compared to a national average of 78%

Uttar Pradesh chief minister Adityanath has asked commercial banks to improve the credit deposit (CD) ratio in the state to match the national average.

As compared to the national CD ratio of 78%, the corresponding figure for UP stands at a much lower level of 57%. This indicates lower credit formation in the state and flight of capital/savings to other states.

Adityanath exhorted banks to not only increase the number of branches, especially in rural areas of the state, but also holding credit camps to improve the low CD ratio in the country’s most populous state.

He underlined that branches should be opened