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| DDC Jammu reviews performance of banks | | | EARLY TIMES REPORT
JAMMU, JAN 5- A meeting of District Level Review Committee (DLRC) District Consultative Committee (DCC) for the quarter ending September 2010 of Jammu district convened by State Bank of India Lead Bank Office, under the chairmanship of District Development Commissioner, Jammu Sanjeev Verma.
The meeting was organized to review the performance of banks with regard to achievement under Annual Credit Plan of 2010-2011 and also to review the position of deposits.
While, as the deposits of all the commercial banks as 30 September, 2010 stood at Rs. 12158 crores and advances of all banks stood at Rs. 3870 crores thus achieving a CD Ratio of 31.83%.
The DDC exhorted upon all banks to take remedial measures to arrest the fall in CD Ratio which is at low ebb. He also showed his concern about the financial polarization of private banks which are more profit motivated than the commitment for social/rural upliftment.
Verma expressed his concern about the tardy progress made by banks to achieve 100% financial inclusion. He directed all the banks to adopt multi pronged holistic approach to make their out reach possible in the far-flung villages which are mostly unbanked. They should endeavor to deepen the penetration of financial inclusion and expand the coverage of financial services to all sections of society particularly to those at the bottom most of the economic pyramid. He further said that financial inclusion is a process of ensuring access to financial services and timely and adequate available of credit needed by vulnerable groups such as weaker sections, rural women and income groups at an affordable cost.
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