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CM for pro-active role by banks

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GUWAHATI, June 28 � Expressing dissatisfaction with the performance of almost all the major Indian banks operating in Assam, Chief Minister Tarun Gogoi has urged the banking sector to play a more pro-active role for the uplift of rural economy of the State.

Gogoi, who sat for a meeting with the heads of all the major Indian banks on Monday, told newsmen that the banks have been asked to facilitate more credit flow into the agricultural and its allied sectors.

The meeting saw participation by all the major banks including United Bank of India, State Bank of India and NABARD, beside others.

�Apart from a couple of banks like Assam Gramin Bank and the State Bank of India, performance of all the other banks has not been found satisfactory,� Gogoi said during a press conference today.

Asserting that the Government is according top priority to rural economy, the Chief Minister informed that he will review the performance of the banks time to time, especially in respect to credit flow.

�We have set them a disbursement target of Rs 1002 crore for the current fiscal year, which last year was Rs 375 crore,� Gogoi said.

He also asserted the need to improve the cash deposit ratio, which at present stands at 39.71 per cent.

�At present, there are 27 lakh farmers in the State, of whom over 80 per cent are small and marginal farmers. The thrust is now on the agricultural sector and not big industries. Rural development will lead to overall development of the State, besides opening up large-scale employment opportunities,� he said, adding that the banks should disburse more loans to the farmers and issue more Kishan Credit Cards even if that requires simplification of the existing rules.

�Rural economy in Assam has no doubt picked up but there is still a long way to go. Even the gross domestic product of the State need to be stepped up,� the Chief Minister pointed out.

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CM for pro-active role by banks

GUWAHATI, June 28 � Expressing dissatisfaction with the performance of almost all the major Indian banks operating in Assam, Chief Minister Tarun Gogoi has urged the banking sector to play a more pro-active role for the uplift of rural economy of the State.

Gogoi, who sat for a meeting with the heads of all the major Indian banks on Monday, told newsmen that the banks have been asked to facilitate more credit flow into the agricultural and its allied sectors.

The meeting saw participation by all the major banks including United Bank of India, State Bank of India and NABARD, beside others.

�Apart from a couple of banks like Assam Gramin Bank and the State Bank of India, performance of all the other banks has not been found satisfactory,� Gogoi said during a press conference today.

Asserting that the Government is according top priority to rural economy, the Chief Minister informed that he will review the performance of the banks time to time, especially in respect to credit flow.

�We have set them a disbursement target of Rs 1002 crore for the current fiscal year, which last year was Rs 375 crore,� Gogoi said.

He also asserted the need to improve the cash deposit ratio, which at present stands at 39.71 per cent.

�At present, there are 27 lakh farmers in the State, of whom over 80 per cent are small and marginal farmers. The thrust is now on the agricultural sector and not big industries. Rural development will lead to overall development of the State, besides opening up large-scale employment opportunities,� he said, adding that the banks should disburse more loans to the farmers and issue more Kishan Credit Cards even if that requires simplification of the existing rules.

�Rural economy in Assam has no doubt picked up but there is still a long way to go. Even the gross domestic product of the State need to be stepped up,� the Chief Minister pointed out.

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