MD Thongdok AGM Roy
By Pradeep Kumar
ITANAGAR, Jun 29: Wong fixation of targets by lead bank is responsible for poor Arunachal Pradesh credit deposit ratio (CDR) of 36.38% as on 31st December 2019 (according to official data available with this daily) against national CDR of 77.91%, said Arunachal Pradesh Cooperative State Apex Bank Ltd (APSCABL) MD T Thongdok.
Pointing out that the APSCABL has second highest 36 branches while State Bank of India (sate’s lead bank) has highest 82 branches (19 urban and 43 urban), he cited example of 2019-20 financial year when the SBI had huge cash shortfall (difference between deposits and advance) by his bank had excess deposit. He quoted figures of shortfall and deposits to say that the state CDR would have improved with right fixation of loan targets by the lead bank. The banks with 60 to 70% deposits should have been given 30% credit target, he said, adding his bank’s higher CRD of 112.55% made no difference for getting low credit target.
The APSCABL has always been offering loans for state government sponsored schemes, he said, adding 6,000 accounts of state’s total 70,000 registered farmers are with his bank to receive direct benefit transfer of Rs 6,000 @ Rs 2,000 thrice under PM Kishan Yojana. Moreover, kishan card is given to all eligible farmers as desired by Prime Minister Narendra Modi to revolutionize the farming sector. This would immensely benefit this state as agriculture-horticulture is mainstay of majority population of the state, he added.
While The Economic Times on 12.12.19 reported that “Amidst a slowdown in the economy, bank credit is expected to grow at 6.5-7.0% during the current fiscal ending March’20, according to ratings firm ICRA Limited, which would be the lowest growth in 58 years while COVID-19 pandemic brought economic activities of the country to a grinding halt. This calls for the banks to play a pivotal role by extending credit facilities to the people for the economy to grow.
SBI Naharlgun branch AGM Dulal Roy, when asked, said that CDR reflecting overall performance is a yearend snapshot but his bank’s average monthly CDR is much better. Various categories of loans are always given as per norms and the banks would continue to do so for greater welfare of people of the state, he added.
Financial institutions serve as vehicles for economic transformation by working as bridge between the present and the future in federal system of India. Thus, economist Dr. Amartya Sen had said: ‘Poverty is the deprivation of (financial) opportunity’.
First Global Findex Database (GFD) report of World Bank 2011 had said that 40% Indian adult had a bank account while overwhelming majority of Indians, especially in rural areas, were financially weak and excluded from the formal economy. Seven years later, almost 80% of adult Indians have bank accounts, the GFD said in its April 2018 report.
The SBI’s rural branches are at Anini, Basar, Bhalukpong, Bomdila, Bordumsa, Chowkham, Deomali, Diyun, Doimukh, Dumporijo, Hawai, Hayuliang, Jang, Kalaktang, Kharsang, Khonsa, Koloriang, Likabali, Longding, Lumla, Mechuka, Miao, Nafra, New Palin, Nirjuli, Pangin, Raga, Ruksin, Changlang, Dirang, Jairampur, Kanubari, Rupa, Seijosa, Sunpura, Tawang, Tenga Valley, Tuting Wakka, Wakro, Yazali, Yingkiong & Yupia. Its urban branches are at Aalo Bazar, Along, Arunachal Pradesh Secretariat Branch, Daporijo, Ganga, Itanagar, Kimin, Naharlagun, Naharlagun Bazar, Namsai, NERIST Nirjuli, Old Ziro, Pasighat, Pasighat Bazar, PBB Ziro Point Itanagar, Roing, Seppa, Tezu and Ziro.
The APSCABL branches are at Naharlagun, Itanagar, Roing, Miao, Ziro, Pasigaht, Namsai, Bordumsa, Bomdila, Hapoli, Aalo, Tezu, Doimukh, Seppa, Deomali, Anini, Tawang, Daporijo, Nirjuli, Mahadevpur, Sangram, Basar, Khonsa, Jengging, Ganga, Tuting, Yingkiong, Changlang, Jang, Mechuka, Dambuk, Chimpu, Tirbin, Balijan, Women Branch, Koloriang and Nyapin.