CS unhappy with performance of banks, financial institutions

ITANAGAR, 9 Apr: Chief Secretary Naresh Kumar met with members of the State Level Bankers’ Committee (SLBC) at the civil secretariat here on Friday and said that he was “not content with the performance of the banks and other financial institutions in the state.”

Pointing out that the records indicate that they are not working in the desired direction, the chief secretary said, “The credit extended to the people for the priority sector is still very low.”

With a discouraging state CD ratio at 34.86 percent (as against the national norm of 60 percent),

credit + investment ratio at 42.12 percent (as against the national norm of 60 percent), and low performance in extending credit to self-help groups, KCC and the PMAY under the Aatmanirbhar package and others, the chief secretary asked the banks and financial institutions to improve their performance.

“I do hope that in the current financial year, the banks and financial institutions in the state will try to improve their performance, especially on the priority sector of government of Arunachal Pradesh and the government of India,” he said.

The meeting for the quarter ended December 2020 was attended by Finance Secretary YW Ringu, Industry Secretary Hage Tari, SBI Regional Manager DK Mahato, the Apex Bank MD, the APRB chairman, senior officers from the NABARD and the planning department, and representatives of the ICICI Bank, the Bank of Baroda, Axis Bank, HDFC, the Indian Bank and other banks and financial institutions. (CS’ PR Cell)