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Tripura concerned over low credit deposit ratio

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  6 Feb 2016 12:00 AM GMT

A CORRESPONDENT

AGARTALA, Feb 5: Tripura government has expressed grave concern over the less credit deposit ratio of the tiolized banks in Tripura and their reluctance in landing in the government sponsored self employment schemes.

At present the credit deposit ratio of the banks in the State is only 44 per cent though the Reserve Bank of India have clear instruction that it should be minimum 60 per cent.

This was stated in a memorandum submitted to the Union minister of State for Micro, Small and Medium Enterprises Giriraj Singh. The Union minister also shared the concern and instructed the banks to submit a report describing the difficulties they are facing in landing in government sponsored schemes.

The memorandum submitted in a review meeting said out of 27 banks operating in the State only five has responded and landed in micro, small and medium enterprises which could have create good number of employment. It said every year the State government is allotting lone to 1500 persons in centrally sponsored self-employment schemes and another 3000 in the State government’s Swabalamban scheme.

Later talking to the reporters the Industries minister Tapan Chakraborty said the Union minister’s attention also was drawn to the problem arising due to non-releasing of subsidies for the industries in Northeast. He said the Union minister has assured of looking after our problems.

The representatives of all the banks also were present in the meeting. One of them later said that the main problem of lending in small enterprises is low rate of recovery. He said the credit deposit ratio remains low as there is hardly any proposal for big investment. They have tried to draw the minister’s attention to these problems.

Singh during his two day stay visited several small enterprises and discussed with the entrepreneurs. He advised them to invest more on industries based on locally available raw materials like rubber, bamboo etc. He said there are good prospect of producing honey in large quantity.

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