BANGALORE, July 27: Karnataka Chief Minister Siddaramaiah today said despite having 8,430 bank branches in the State the flow of credit was low as compared to neighbouring Tamil Nadu and Andhra Pradesh which had maintained Credit Deposit (CD) ratio of 117 to 120 per cent.
‘Even in case of rural areas, the CD ratio in Karnataka barely managed to cross 100 per cent while Tamil Nadu has been able to achieve 132 per cent and Andhra Pradesh touched 173 per cent,’he added.
In his address at the 124th State Level Bankers Committee (SLBC) meeting here, he said ‘we need to change this trend to ensure higher credit flow to economy in general and to rural economy in particular.’
Welcoming formation of a High Level Committee on CD ratio with Syndicate Bank Executive Director as the Chairman, Mr Siddaramaiah said the Committee should undertake a thorough analysis of the lower Cd ratio and formulate strategies to improve the same as higher credit flow can give the required stimulus to growth.
(UNI)
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