Mohali tops state in meeting Annual Credit Plan targets

The district posted an achievement of 110 per cent in meeting the Annual Credit Plan (ACP) targets to secure the first position in the state.

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The Credit Deposit (CD) Ratio, meanwhile, stood at 104 per cent for the district against the national goal of 60 per cent, MK Bhardwaj, Lead District Manager, informed the local administration.

To review the progress of banks for the quarter ending March 2025, a District Consultative Committee Meeting was convened today by Punjab National Bank, Lead Bank Office, at District Administrative Complex, which was attended by district coordinators of all banks.

Progress of banks reviewed

Sonam Chaudhary, Additional Deputy Commissioner (Development) Mohali, meanwhile, also reviewed progress of all the banks for the Financial Year 2024-25 under the Annual Credit Plan for 2024-25 and asked the Bankers to keep a proactive and sympathetic approach towards pending applications under all the government sponsored schemes.

Pankaj Anand DGM (Circle Head) Punjab National Bank put stress on maintaining the minimum level of CD ratio by all the banks.

Deepak Singla from the Reserve Bank of India, also advised the banks to ensure more focus on 100 per cent digitisation in the saving and current account segments.

He also urged for a heightened focus on increasing financial literacy and digital awareness among rural people.

Anchal Sharma, DDM Nabard, further went on to express her concerns over the low achievement of some of the banks from the agriculture segment.