State Bureau, Ranchi: The State’s Finance Minister, Dr. Rameshwar Oraon, expressed satisfaction during the State Level Bankers’ Committee (SLBC) meeting on Wednesday, noting that through collective efforts, the CD ratio (Credit-Deposit Ratio) in the state has reached 49.5%.
He stated that without a robust banking system, the country’s economic development would come to a halt. Banks play a crucial role in advancing the state’s economy. Speaking at the Project Bhavan auditorium, he mentioned that the CD ratio in the state has now reached the take-off stage and will only improve from here.
He pointed out that five years ago, in 2019-20, the CD ratio was between 39-40%, which has now increased to 49.5%. He further added that banks are now focusing on the knowledge sector, providing higher education to children from poor families through the Guruji Student Credit Card Scheme. Officials from the Finance and Agriculture departments, along with representatives from various banks, attended the meeting.
Banks Urged to Work on Preserving Tribal Culture
During the SLBC meeting, Minister Dr. Rameshwar Oraon emphasized the need to preserve tribal culture, stating that there hasn’t been enough work done in this area.
Oraon urged banks to allocate funds from their CSR (Corporate Social Responsibility) initiatives for this purpose. The government is also starting initiatives in this direction.
He mentioned that traditional tribal musical instruments like Mandar and Nagara have become expensive, costing around five thousand rupees each, making them unaffordable for many. In Lohardaga, 100 Mandar and 75 Nagara were distributed by a bank, and similar actions should be taken in other regions. The government has also allocated a budget for these instruments.
Farmers’ Loan Waiver: Agriculture Minister Deepika Pandey Singh
Agriculture Minister Deepika Pandey Singh stated that the government has decided to waive previous agricultural loans for farmers, with 1,900 crore rupees already waived. Further loan waivers are being planned.
The Jharkhand government is waiving 50% of the loans, so banks should also waive 50% of the loans. Additionally, measures should be taken to ensure that farmers can easily access new loans. The government expects cooperation from the banks in this regard.
She pointed out that the lack of cooperation from banks has been a key reason for the failure of many schemes. There is a need to consider how to make this process easier. A helpline number is also necessary, allowing people to communicate their problems to the bank.
