Jamshedpur Banks Achieve 53.86% Credit-Deposit Ratio in District Review Meeting

DCC and DLRC meetings held under DM Ananya Mittal’s guidance; focus on improving agriculture loans and expediting government schemes.

Jamshedpur banks reached a 53.86% credit-deposit ratio, surpassing the 50.19% target, in a review meeting chaired by ITDA Director Deepankar Chaudhary.

JAMSHEDPUR – Under the direction of District Magistrate Ananya Mittal, Jamshedpur’s District Consultative Committee (DCC) and District Level Review Committee (DLRC) meetings were conducted, where banks reported a 53.86% credit-deposit ratio for the first quarter of FY 2024-2025.

The review meeting, led by ITDA Director Deepankar Chaudhary, highlighted the financial performance of banks, with Lead District Manager Santosh Kumar presenting the quarterly financial report.

Banks achieved a credit-deposit ratio of 53.86%, exceeding the set target of 50.19%.

Under the Pradhan Mantri Jan Dhan Yojana, 55,064 of the 8,47,428 accounts were reported as zero-balance, and the Aadhaar seeding percentage stood at 88.69%.

The ITDA Director emphasized the need to improve agriculture loans, enhance deposit-credit growth, and expedite loan disbursements under schemes like PMEGP and PMFME.

He urged banks to prioritize the execution of government schemes and work sensitively to serve the underserved sections of society.

The Lead District Manager acknowledged the shortfall in priority sector lending by some banks and stressed the need for rational annual credit targets.

Additionally, the ITDA Director instructed banks to actively participate in the "Aapki Yojana Aapki Sarkar Aapke Dwar" program to promptly address rural issues.

He also emphasized the importance of ensuring that all eligible farmers under the Birsa Pradhan Mantri Fasal Bima Yojana benefit from the scheme.

Lastly, a collective meeting involving DDM NABARD, the Lead District Manager, the GM of the District Industries Center, agricultural departments, and others was recommended to boost employment and income opportunities in the district.