Executive Director of Punjab National Bank, Gauri Shankar said here today that “a major task for the new government at the Centre would be to immediately end policy paralysis that has badly hit different sectors like infrastructure, power and steel”.
The PNB Executive Director who was here in Chandigarh today to preside over a state level bankers committee meeting of Punjab said that “once policy paralysis ends, GDP would jump as a consequence.” He highlighted three focus areas for growth: Retail, Agriculture and MSME and said that micro finance was key to growth.
About the performance of different banks in Punjab, Gauri Shankar informed that totaln deposits in Punjab increased by Rs 30,367 crore from Rs 2,00, 578 crores to 2,30,945 crores from April 2013 to March 2014. Total advances during this period increased by Rs 13,884 crores from Rs 1,71474 crores to Rs 1,85,358 crore showing a growth of 8.09 per cent. During this period priority sector advances increased from Rs 82,686 crore as at March 2013 to Rs 98502 crores as at March 2014 showing a growth of 19.12 per cent.
Surjit Singh Rakhra, Minister for Rural Development and Panchayats, Punjab expressed satisfaction at the working of different banks in Punjab at the meet.