Dip in credit-deposit ratio worries govt

Shimla, December 16

A decline in the credit-deposit ratio of 44.60 per cent in the state is a major concern for the banking sector and there is need to address this issue.

This was stated by Onkar Sharma, Principal Secretary (Rural Development), while presiding over the 146th quarterly review meeting of the state-level bankers committee here today.

He said the state government was pro-actively encouraging the use of digital platform for making payments and asked the banks not to encourage multiple bank accounts.

Expressing dissatisfaction over the rejection of high number of insurance claims, he asked the insurance companies concerned for timely clearance of the claims.

He said Aadhar seeding and digital payment system in the state was best in the country and payments under MGNREGS were directly made in the accounts. — TNS