Early Times Report
Srinagar, May 22: Appreciating the commercial banks operating in the state for progress made in the field of deposit mobilization and credit expansion, the Minister for Finance and Ladakh Affairs, Abdul Rahim Rather today urged for redoubled efforts to improve their CD Ratio, which, he said was is yet much below the national bench mark of 60%. "However, the minister said, as a result of the efforts made by the Member Banks in this direction, the CD Ratio has improved to 44.58% as against the previous year's figure of 36.51%, which, of course was laudable. Speaking at the 93rd meeting of J&K State Level Bankers Committee (SLBC), held on Thursday at Sher-i-Kashmir International Convention Complex (SKICC), Srinagar, the Finance Minister said that the deposits as on ending March 2014 have grown by about 12% over the corresponding figure for the previous financial year, while the credit size has grown by about 37%. He said the expansion of credit size is also in line with the trends noticed in the cumulative performance of all the Member Banks right from the first quarter of the year. Rather said the Agriculture sector advances have improved marginally as a share in the total advances and added that it is heartening to note that the advances to the weaker sections have also improved as a percentage of total priority sector advances. Rather pointed out while impressing upon the commercial banks to pay special attention towards MSME sector because it holds a high potential of generating employment for the educated youth. |
