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State-level Bankers’ Meet Discusses Ways to Improve the Indian Economy

State-level Bankers’ Meet Discusses Ways to Improve the Indian Economy

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  24 Aug 2019 8:11 AM GMT

Our Correspondent

Itanagar: A State-level bankers’ meet here on Friday discussed on how to generate ideas to turn present $2.70 trillion Indian Indian Economy to $5 trillion economies in next five years by 2025, as conceived by the Prime Minister Narendra Modi.

SBI NE Network-I general manager Sudhir Kumar Sharma, said that national Credit Deposit Ratio (CDR) now is 76% while it stood at 34% for Arunachal Pradesh, raised from 31% last year. He hoped that state’s CDR would improve in coming years. “The CDR is indicator of growth of economy,” he said adding, the banks have vital role to play in pushing national economy up.

He exhorted all participants including senior state government officers and representatives of 15 public sector undertaking banks to suggest new ideas for giving a new thrust to national economy.

However, the bankers will make a presentation on 16 key performance indicators (KPI) based on the discussions held among the senior executives of banks on Saturday to draw state level conclusions.

The key performance indicators include, credit for infrastructure and industry; credit to farm sector and blue economy, Jal Shakti, housing, education, MSME, green economy, export credit, swachha credit, financial inclusion & women empowerment, direct benefit transfer (DBT), less cash/digital economy, ATM usage and performance, ease of living and corporate social responsibility (CSR).

Arunachal Chamber of Commerce & Industries (ACCI) secretary general Toko Tatung called upon the bankers to change their discouraging attitude as the private bankers create numerous hurdles to extend loan facilities.

“Change of attitude makes dozens entrepreneurs,” said Tatung, an enterprising entrepreneur.

Referring to 450 per cent rise in non-performing assets (NPA) claimed by private bankers, he said state entrepreneurs’ share may be around 0.001 per cent.

Tatung questioned as to why the CDR ration of NE region is only 33 per cent, if the SBI is claiming Rs 2.02 lakh crore is its NPA, what is the share of NE region, he asked?

The two-day meet, an initiative of union department of financial services, had brainstorming discussions on how to give new thrust to the national economy to march ahead.

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