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Himachal CM asks bankers to target agri, tourism sectors; increase credit-deposit ratio

Press Trust of India  |  Shimla 

The bankers should target sectors such as agriculture, horticulture, tourism and services in for increasing the credit-deposit ratio and ensuring all-round and robust development, said on Tuesday.

The credit-deposit ratio in the state is 35.47 per cent which is quite low as compared to the national average of 75.64 per cent, he said while presiding over the state level bankers' conference here.

The sector should create conducive atmosphere for people to go for institutional loans, Thakur said, adding that the efforts would be made to bring banks in the state under the preview of for Micro and Small Entrepreneurs (CGTMSE) for availing credit guarantee coverage for collateral free loans.

The banks should also simplify cumbersome documentation and procedure requirements for availing banks loan, he added.

A survey conducted in the state has found that a large proportion of households accessed non-institutional sources for loans, he said adding that only about 46.51 percent household opted for institutional loans, thus the bankers should come up with easy and simple procedure for financing.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 21:40 IST