Poor credit-deposit ratio of banks in Sikkim

Fake currency problem discussed at cutomers meet.


GANGTOK, September 13: The Reserve Bank of India has expressed is dissatisfaction over the credit-deposit ratio of banks in Sikkim which stands at 43:100 only.
The RBI has attributed this to poor loan recovery rate in the agriculture sector, accounting for the largest portion of bank loans in the State. However, it is informed that only 22 percent of agriculture loan in Sikkim is not recovered as compared to 40 percent in the national level. Besides, the private sector banks operating in the State do not maintain their Statewise record about the loans advanced by them in various sectors which also attributes to a lower credit deposit ration in Sikkim.

Addressing a press meet yesterday evening, the general manager of Kolkata base regional office of the RBI, CD Sriniwasan added that the loan recovery rate in industrial sector in Sikkim is better in comparison to other States. He informed that RBI is going to take up at least one village in each of four districts in the State where it will have a direct involvement to monitor the utilization of loans advanced under various Centrally Sponsored Schemes. At the same time, the RBI general manager said that farmers who have benefited from loan waiver scheme of the government have not approached the bank for fresh loans.

“If necessary, the bank will also arrange for training and capacity building of the beneficiaries with a view to convert these villages into a model of development,” he informed.

Mr. Sriniwasan said that the programme, being undertaken as a part of the RBI Platinum Jubilee Out Reach programme, was launched in the State from Samdur Village in East District yesterday.

With regard to prevention of circulation of fake currency notes, Mr. Sriniwasan observed that though the problem is almost nil in Sikkim, the RBI is not taking any chances and arranging for wide spread awareness campaign throughout identifying fake notes at grass-root level throughout the State. He told that almost all the bank branches in the State are equipped with ultra-violet machines to scan such notes.

Later in the evening, a get toghether was organised by bank customers at Hotel Plaza where discussions took place in length on Fake Note issue, delay in loan sanction, etc.

S.K.Sarda, President, Sikkim Chamber of Commerce congratulated RBI for having adopted a village Samdur in Gangtok Locality on the occassion of its 75th Anniversary.He stressed the need for dispersal of nationalised bank branches all over Sikkim instead of just concentrating in Gangtok and around.He urge bankers to make customers more aware about fake note detection.