Subsequent decline in credit-deposit ratio of 44.60 per cent in Himachal Pradesh is a major concern for banking sector and…
(Photo: AFP)
Subsequent decline in credit-deposit ratio of 44.60 per cent in Himachal Pradesh is a major concern for banking sector and there is a need to give attention to address this major issue in financial system.
Principal Secretary (Rural Development) Onkar Sharma said this while presiding over 146th quarterly review meeting of state level Bankers Committee on Saturday. He emphasised upon promoting digital payments to transform the society into digitally empowered society.
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He said that state government was pro-actively encouraging use of digital platform for making payments in the bank accounts and thereby creating conducive environment for cash-less societies.
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Sharma asked the banks not to encourage multiple bank accounts. He expressed dissatisfaction over the rejection of high number of insurance claims and asked Insurance Companies concerned for timely clearance of the claims. However, it was apprised that FIR and autopsy report was mandatory for insurance claim. He also asked the banks for conducting financial literacy camps in regular intervals.
He said that Aadhar seeding and digital payment system in HP was best in the country and cent percent payments under MGNREGS were being made direct to the accounts. He also asked the banks for proper security of ATMs.
He said transformation of rural economy was the priority of the state and emphasis was being given on diversification of crops and introduction of high yielding hybrids of vegetables. He directed the banks for issuance of Kisan Credit Cards to cent-per cent farmers of the state and also stressed upon the need of liberal credit in agriculture and horticulture sectors so as to enhance agrarian economy.
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