Modi pulls up Banks for slow pace of loan distibution in Bihar

Patna, Nov 19 (UNI) Bihar Deputy Chief Minister Sushil Kumar Modi today expressed concern over slow pace of distribution of loans by the commercial Banks operating in the state and directed them to take steps for meeting the credit target fixed for the current financial year.

After reviewing the performance of the commercial Banks on providing loans at state level Bankers' meeting here, Mr Modi said Banks had provided credit to the tune of only Rs 3588 crore till date while target fixed for the current financial year was Rs 13,000 crore.

'' Unless vigorous attempts are made, the possibility of meeting the credit target by the commercial Banks during the current financial year appears impossible, '' he said adding the Banks had provided loans of Rs 8783 crore in the state during the last financial year.

Mr Modi lamented that against the target of Rs 809 crore, only Rs 169 crore were distributed by the Banks in flood-hit areas till now and asked them to step up the process of providing succour to flood victims.

In 15 districts, the credit-deposit ratio was less than 30 per cent which was indication of gloom scenario of performance of Banks on this front, he added.

UNI