Himachal targets total credit inclusion by March

Himachal Pradesh is on course to bringing its entire rural population under credit inclusion by March this year. The proposed move by the banks is aimed to helping the rural people meet their daily expenses and also save them from moneylenders.

As on February 15, 2009, around 89 per cent of the rural households have been covered and efforts are on to bring the remaining by the end of this financial year.

Speaking to Business Standard, Ripan Murgai, UCO Bank field general manager, said, “A significant percentage of rural population did not have access to credit facilities, so it was decided during the State Level Banker’s Committee to credit-link the farmers.”

“We are hopeful of bringing the entire rural population under credit inclusion by March 2009,” he added.

According to data prepared by UCO Bank, the lead bank of Himachal Pradesh and also the convener of the State Level Bankers Committee, of the total 1,078,332 households in the 12 districts of Himachal, 1,005, 442 are eligible for credit inclusion.

“Already 890,951 households have been covered up to February 15, 2009. Further, 44,721 households were not interested in credit facility because of various reasons. We are targeting to cover the remaining 114,491 households by March 31, 2009,” he said.

Districts like Bilaspur and Shimla have already achieved 100 credit inclusion.