NE Banking Service On A Par With National Average: Rajnish Kumar

STAFF REPORTER

GUWAHATI: Chairman of State Bank of India (SBI) Rajnish Kumar on Saturday said banking service in reaching each & every customer in the North East is on a par with the national average even as connectivity still remains an issue in the region.

Addressing a press conference at the SBI headquarters here on Saturday evening, Kumar said his bank has been able to open branches in interior and remote parts of North East. More branches of SBI are being set up in the region, he said.

Kumar who also heads the State Level Bankers’ Committee (SLBC) in NE, said majority of public sector banks have been successful in implementing the mandate of Reserve Bank of India of setting up branches in proportionate with population break up.

Kumar said the SBI will initiate more steps to improve banking services in tea garden areas in the State. He said his bank is ready to provide loans to tea gardens in case they can submit feasible projects.

“Even though we have been able to set up branches and service points in almost all parts of North East, connectivity is still an issue affecting services of bank branches in certain parts of the region,” Kumar said.

Kumar who was in the city to participate in the two-day long State level consultative meet of top officials of public sector banks and State government to generate ideas to revive the country’s economy, said the meet will work out a roadmap for a vibrant economy of Assam.

Responding to reports of economic slump in the country, the SBI chairman pinned hopes that the recent announcements of Union Finance minister Nirmala Sitharaman will give the desired impetus to the economy to revive. He, however, said the current phase of economic scenario is not a recession but slump in demand in certain sectors particularly the automobile.

“The government is speaking to banks as it considers a stimulus package to revive India’s economy that has hurt credit demand in its slump. Hopefully, with increased government spending, monsoons and festive season we will see credit demand,”Kumar said.

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