HYDERABAD: Union Minister for Tourism and Culture G Kishan Reddy on Saturday praised bankers in Telangana for having the highest credit-to-deposit ratio in the country at 114.65%. He made these remarks at a meeting of the State-Level Bankers Committee (SLBC) held at the State Bank of India's (SBI) head office in Hyderabad. Kishan reviewed loans and other support being extended by the banks for Central schemes.
The Minister noted that while there were total deposits of Rs 6,32,834 crore in all the banks of the State, Rs 7,25,568 crore was given as loans, reflecting the efficiency of bankers in giving loans. However, he also noted that with respect to crop loans, banks have only achieved 58.43% of their targets for disbursing Rs 40,564 crore for 2020-21, Rs 42,853 crore for 2021-22, and Rs 40,718 crore for 2022-23.
Kishan attributed the success of central schemes, such as Jan Dhan accounts and direct benefit transfers, to the Digital India initiative, which he said has allowed for better services for the poor. Through this initiative, Prime Minister Narendra Modi eliminated the involvement of State governments and brokers in the distribution of welfare benefits, said Kishan. Appreciating bankers for their work, he said that banks had attained more prominence under Narendra Modi’s rule.