Uttar Pradesh govt asks commercial banks to step up credit flow

Aiming to become a $1-trillion economy by 2027, Uttar Pradesh has asked commercial banks to boost the flow of credit in laggard districts of the state.

While the state’s aggregate credit-deposit (CD) ratio is about 52 per cent, the average CD ratio stands at 40 per cent in comparatively backward regions of Purvanchal (eastern UP), Madhyanchal (central UP), and Bundelkhand.

The UP government has said unless the credit flow is equitable across the different regions, the goal of a $1-trillion economy would remain elusive.

Commercial banks have been asked to hike the CD ratio in the three regions from 40