Credit-deposit ratio in UP disappointing: RBI

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SummaryThe names of the selected districts were, however, not disclosed.

Expressing disappointment over the low credit-deposit ratio in Uttar Pradesh, RBI Governor D Subbarao today said the central bank has selected 10 worst-performing districts with a view to improving this scenario.

"In Uttar Pradesh (UP), credit-deposit ratio is merely 46-47 per cent, which is very disappointing. To improve this, RBI has selected 10 districts with lowest credit-deposit ratio and it will be increased by three per cent," Subbarao told reporters here.

The names of the selected districts were, however, not disclosed.

The credit-deposit ratio indicates how much banks lend out of the deposits they have mobilised.

Terming difficulties faced by weaker sections to access credit as "unfortunate", RBI Governor said there is a need to increase credit flow by improving credit-deposit ratio in minority-dominated 140 development blocks in the state.

Subbarao said banking facility would be provided in more than 200 Lohia villages in Uttar Pradesh.

Commercial banks would open 3,000 branches in the state by March 2014 and he had a discussion with Chief Minister Akhilesh Yadav yesterday on the matter, the governor added.

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