Banks play a crucial role in reaching welfare schemes to beneficiaries: Finance Minister.
Emphasis on promoting banking facilities at the state-level Bankers Committee review meeting.
Raipur, January 16, 2025 / Banks play a crucial role in boosting Chhattisgarh’s economy. Under the leadership of Chief Minister Shri Vishnudev Sai, the state government is vigilant in expanding banking services and is prepared to provide all possible assistance to expand banking facilities in backward and remote areas. Finance Minister Shri OP Chaudhary said this while addressing the state-level Bankers Committee meeting today.
Finance Minister Shri OP Chaudhary said that the banking system is the backbone of the state’s economy. Without expanding banking facilities, we cannot develop the state, therefore we need to rapidly expand banking facilities. He said that Chhattisgarh is a leading state in the country in terms of DBT. Banking services have expanded more in the state than before, but there is still scope for further expansion. He stated that the state’s CD ratio is better than the national level and Chhattisgarh is the third highest CD ratio state in the country. However, the CD ratio of some districts is low, and emphasis should be given to increasing it.
Finance Minister Shri Chaudhary instructed bank officials to provide adequate credit to farmers for Rabi, horticulture, fisheries, and animal husbandry along with Kharif. He said that a massive campaign is underway in the state to construct more than 18 lakh houses under the Pradhan Mantri Awas Yojana. If banks provide loans to PM Awas beneficiaries, it will be easier for them to build organized and well-equipped houses. This will increase employment opportunities and economic activities in the state.
Finance Minister Shri Chaudhary said that the Chhattisgarh government will provide all possible help to start regional and head offices of banks in Nava Raipur. He said that land allocation will be done on a priority basis by the government for building regional and head offices in Nava Raipur. He told the bank officials that initiatives should be taken to get deposits from government schemes for branches started in backward and remote areas of Chhattisgarh.
The review meeting was also addressed by Additional Chief Secretary Shri Manoj Pingua, Principal Secretary Smt. Niharika Barik Singh, Principal Secretary Shri Sonmani Bora, Deputy Managing Director of SBI Shri Surender Rana, CGM NABARD Shri Gyanendra Mani, Smt. Sheetal S Verma, DIEC Chhattisgarh, and many other bank officials. The meeting was attended by Agriculture Production Commissioner Smt. Shahla Nigar, Finance Secretary Mukesh Kumar Bansal, and secretaries, commissioners, and director-level officers from various departments, along with bankers.