Tripura CM blames banks for slow development of NE

Agartala, May 20 (UNI) Tripura Chief Minister Manik Sarkar has blamed the inadequate infrastructure of nationalised banks in the North East for under development of the region.

Addressing the 54th meeting of the Northeastern Council (NEC) yesterday at Aizawl, Mr Sarkar said the low Credit Deposit (CD) ratio had been the major obstacle in the economic development of the region and urged the Centre to look after this sector.

'' The nationalised banks should take immediate initiatives to improve the cash deficiet ratio by at least 50 per cent from the existing level and provide micro-finance to the self help groups and small borrowers as well as young entrepreneurs,'' Mr Sarkar stated.

The region had sizeable potential but inadequate infrastructure and poor investment had prevented proper exploration of the resources, he pointed out adding that the NEC should take up this issue and demand financial and technological support from the Centre for development of the region.

UNI