Commercial banks in Bihar not serious about loans: Modi

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SummaryBihar government today admitted in the state assembly that the commercial banks in the state were not serious about providing loans for promotion of dairy, poultry and fishery in Bihar.

Bihar government today admitted in the state assembly that the commercial banks in the state were not serious about providing loans for promotion of dairy, poultry and fishery in Bihar.

Replying to a starred question of RJD's Durga Prasad Singh, Deputy Chief Minister Sushil Kumar Modi admitted that the commercial and regional banks in the state were not taking serious about financing the people for setting up dairy, poultry and fishery projects in rural areas.

"We have, however, maintained pressure on these banks for financing the people for these projects," Modi said.

He admitted that the banks failed to achieve the target fixed for financing these projects during 2011-12.

Modi, who also holds the additional portfolio of finance, said against the target of disbursement of loan to the tune of Rs 228.95 crore for financing these projects

during the financial year 2011-12, the banks released loan to the tune of merely Rs 9.52 crore during the period.

He said in Bihar there are altogether 4723 banks which have 2891 commercial branches and 1545 are rural regional banks and 286 branches of co-operative banks.

To a supplementary, Modi ruled out any plan of the government to establish its own banks. Rather we will be promoting the cooperative banks.

Deputy Chief Minister said the state government was now putting pressure on the commercial banks for improving the credit-deposit ratio and the state government reconsiders depositing funds in banks for the purpose of improving the CDR which was 33.42 per cent till December 2011.

"We will also be putting up pressure on banks for disbursement of loans for poultry, dairy and fishery projects," he said.

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