UP achieves 59% CD ratio; CM Yogi sets 65% target for next fiscal year

Chief Minister Yogi Adityanath expressed his satisfaction with the state's current credit-deposit (CD) ratio at 58.59 per cent, setting an ambitious goal to elevate it to 65 per cent in the next financial year. He committed to offering all necessary support and security to facilitate this growth for banks.

Furthermore, the Chief Minister emphasised the importance of adopting a mission-driven approach to expand digital banking and financial literacy across all 75 districts.

Reviewing the quarter of the current financial year ending December 2023 in the meeting of the State Level Bankers Committee on Wednesday, he said, "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."

 

In each of its schemes, the government will ensure training and capacity building of the beneficiaries before providing loans, he added.

Referring to the state government's ambitious scheme 'Family ID', he said that all the 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 accurately assessed.

The Chief Minister 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 highlighted that, in alignment with the Prime Minister's vision, the state has been successful in ensuring that every citizen benefits from these crucial social security schemes.

In the special meeting, the Chief Minister 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.

Furthermore, the Chief Minister addressed the recent challenges faced by BC Sakhis due to issues with the Paytm Payment Bank. He stressed the importance of quickly resolving these issues.

Chief Minister Yogi 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 the business expanding from Rs 12.80 lakh crore in 2016-17 to over Rs 26.80 trillion presently, expressing optimism for the future.

As part of the event, the Chief Minister distributed the state's share to Baroda-UP Gramin Bank and Aryavarta Gramin Bank, 110,000 Kisan Credit Cards, launched 1,111 new banking outlets, and provided tool kits to 10 BC Sakhis.

Reserve Bank of India CGM Nisha Nambiar also had a special presence at the meeting. She emphasized the expansion of digital banking. The Chief Minister also gave instructions to hold the meeting of the Bankers' Committee at the state level under the chairmanship of the Chief Secretary every three months and in the district every month.

On this occasion, the HDFC Bank was presented with 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 many development works in these villages.