RBI did not increase CD ratio in Tripura: Minister
Agartala: Despite requests by Tripura government, Reserve Bank of India (RBI) or Union Finance ministry has not taken initiative to increase Credit Deposit Ratio of the nationalised banks operating in the state, Tripura Finance Minister Badal Chowdhury told the assembly Tuesday.
Replying to a calling attention notice by Samir Deb Sarkar (CPI-M), Chowdhury said RBI Governor D Subbarao during his visit to the state on May 19, 2011 had assured that the CD ratio would increased to 40 percent by 2012 but till March it did not reach near 40 percent.
The ratio stood at 33 percent for the last three years when the national rate is 78 percent, the said.
He said that in last few years, the rate of deposit has increased manifold but the rate of credit did not increase in the nationalised banks in the state.
Chowdhury said due to poor rate of CD ratio in the state, the effort for developing entrepreneurship was not being fruitful among the common people.
He further asked the concerned authorities for increasing the CD ratio in the state.