BHUBANESWAR: Commercial banks operating in the State are improving their performance to achieve the RBI norm of 60 per cent credit-deposit (CD) ratio.
The CD ratio of the State has shown an upward trend and increased, despite the pandemic, from 46.75 per cent as of June 30, 2021, to 55.76 per cent on September 30 and 58.90 per cent by December 3, 2021.
Responding to a question by BJD MP Prasanna Acharya, Union Minister of State for Finance Bhagwat Karad said as per information received from the State Level Banker’s Committee (SLBC), Odisha, various measures are being taken to further improve the CD ratio.
He said banks have been advised to clear all pending applications under government-sponsored schemes within a time limit to achieve Annual Credit Plan (ACP) targets and progress under the same is regularly monitored by the State government, SLBC and banks. To achieve the ACP target for the financial year 2021-22, he said strategies like self-help group loan mela, financial literacy camps, Swanidhi se Samridhi camps and credit outreach programs are being organised to achieve the ACP target. The State government has been expressing concern over the poor CD ratio.