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Arunachal CS Naresh Kumar laments poor performance of financial institutions

Arunachal Pradesh Chief Secretary Naresh Kumar on Friday lamented on the poor performance of the banks and other financial institutions in the State.

Naresh Kumar

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  10 April 2021 3:42 AM GMT

OUR CORRESPONDENT

ITANAGAR: Arunachal Pradesh Chief Secretary Naresh Kumar on Friday lamented on the poor performance of the banks and other financial institutions in the State.

Chairing the state level Bankers Committee (SLBC) meeting at his office, he pointed out that the records are indicating that the banks and financial institutions are not working in the desired direction with the credit extended to the people for the priority sector still very low.

With not an encouraging state CD Ratio at 34.86 per cent as against the National Norms of 60 per cent, credit+investment ratio at 42.12 per cent against National norm of 60 per cent and low performance in extending credit to Self Help Groups, KCC, PMAY under Atma Nirbhar Package and others, the chief secretary asked the banks and financial institutions to have a serious introspection and improve their performance for a better result.

"I hope that in the current financial year the banks and financial institutions in the state will try to improve the performance especially on the priority sector of the state government and the Centre," he said.

The SLBC quarterly meeting for the quarter ended December 2020 was attended by Secretary Finance Y W Ringu, Secretary Industry Hage Tari, Regional Manager SBI D K Mahato, MD AP State Co-op Apex Bank, Chairman APRB, senior officers from NABARD, Planning Department, representatives from ICICI Bank, Bank of Baroda, Axis Bank, HDFC, Indian Bank and other Banks and financial institutions, official sources informed here.

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