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Business EconomyPosted at: Jun 20 2018 3:57PM


Banking sector playing a vital role in socio-economic upliftment: HP CM

Shimla, Jun 20(UNI) Chief Minister Jai Ram Thakur said that banking sector was playing a vital role in socio-economic upliftment of the people of the State.
In a message given to 148th State level review meeting of Bankers Committee was held here on Wednesday Mr Thakur said that about 2131 bank branches and 1879 bank mitras were catering to the needs of the people in far flung areas of the State.
He said that each branch of the bank was providing banking services to average 3221 people which was far better than national average of 11000 people per branch of the bank.
State Government has launched Mukhya Mantri Swawlamban Yojna for providing employment and self employment opportunities to the youth of the State. A provision of subsidy has been made to start self employment ventures by the youth between the age group of 18 to 35 years.
He said that provision of five percent interest subvention has been made on interest on the loans up to Rs. 40 lakh raised from the banks for the period of three years. He urged the banks to provide loans easily to the youth so that they could start their own self employment ventures.
Chief Minister said that in order to encourage private hospital facilities in rural areas, a new scheme 'Swasthya Mein Sahbhagita' has been launched in the State. He said that investment subsidy of 25 percent would be provided on investment of rupees one crore besides five percent interest subsidy for three years on loans taken from banks.
He said that effective steps have been taken to associate more and more people with banks under the 'Pradhan Mantri Jan Dhan Yojna'. He said that over 10 lakh people had opened bank accounts in the State under the scheme.
Chief Minister said that Cash Deposit Ratio in the State was about 44.82 per cent which needed to be increased. He said that there was immense potential for providing loans in sectors like tourism, food processing, power , small scale industries etc. in the State. He said that the banks should work to raise the cash deposit ratio to 60 percent as fixed by Reserve Bank of India.
He said that till March, 2018, the banks provided 5625.68 crore loans to 4.18 lakh farmers under the Kisan Credit Card Scheme.
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