Increase CDR to RBI benchmark: FM to banks
EDB distributes KCCs, GCCs
GK NEWS NETWORK
Jammu, Jan 29: Minister for Finance Abdul Rahim Rather today asked the Banks to reach out to people with innovative credit schemes and provide hassle free lending facilities to the priority sectors with special focus on agriculture and allied activities.
He was speaking at a mega function organized by the Ellaquai Dehati Bank (EDB) to mark the launching of new credit scheme for senior citizens “Buzurgon kay leye” and distribution of Kissan Credit Cards (KCC) and General Creedit Cards (GCCs) in Udhampur town in Jammu.
Rather was the chief guest at the function that was attended by hundreds of farmers among whom the finance minister distributed the KCCs and GCCs on the spot.
The finance minister said it was a matter of personal satisfaction for him to see the EDB discharge its financial and social obligations in line with the policies of the central and the state governments. “The CD ratio of ED Bank has substantially improved, but I expect this fast growing Bank to do better in the future,” he said.
The finance minister laid stress on the need to further improve the CD ratio by the financial institutions in the state to the RBI benchmark."
“The banks have to gear up their efforts to issue more and more KCCs as a large number of the farmer population in the state is yet to be covered under the scheme”, he said.
A K Razdan, chairman EDB said the Bank plans to achieve higher milestones in agri credit and other rural lending sectors in the days to come.
“We have already embarked on an ambitious plan for 100 per cent financial inclusion in our areas of operation and to include every household within the banking fold by providing all solutions to their financial problems at their doorsteps is the target of the Bank during the present financial year,”, he said.
The chairman said, “ED. Bank has mobilized all its resources from within the state and is deploying them within the state for credit dispensation in contrast to some bigger financial institutions those have mobilized resources from within the state, but deployed them outside”.
Razdan said the Bank has grown over the years since its inception in 1979 and today the Bank has presence in 13 districts with 114 business units in these districts of the state.
K K Iyer, DGM State Bank of India said the SBI as the sponsor bank of EDB, will ensure that the Bank grows further and achieves loftier targets in the future.
The finance minister on the occasion launched 21 self-help groups and two farmers’ clubs amid large applause. He also launched a special loan scheme ‘Buzargon Kay Liyay’ a tailor-made scheme for senior citizens who are being neglected by their close relatives.
A financial literacy newsletter “EDB Aaina” was also released at the function.
Lastupdate on : Sat, 29 Jan 2011 21:30:00 Makkah time
Lastupdate on : Sat, 29 Jan 2011 18:30:00 GMT
Lastupdate on : Sun, 30 Jan 2011 00:00:00 IST
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