CPI criticises banks for not sanctioning loans to poor

Puducherry, Nov 22(UNI) CPI National Council Member R Viswanathan MLA today charged that the banks in the Union Territory were not providing loans to the poor, but taking care of the affluent sections of the society.

Talking to newspersons here, he said the credit-deposit ratio in Puducherry was awfully poor.

The implementation of various welfare schemes, involving sanction of bank loans was delayed, because of the lacklusture attitude of the banks in sanctioning laons, he added.

Mr Viswanathan regretted the banks were keen on mobilising deposits without showing the same level of enthusiasm in sanctioning advances.

He urged the territorial administration to prepare the eleventh five-year plan of the Union Territory, keeping in view the requirements of the local bodies.

UNI PAB KVV 1910