Tarun Karthick
Port Blair, 24 August 2024
A Special District Consultative Committee on Financial Inclusion and the District Level Review Committee (DCC/DLRC) meeting for the June 2024 quarter of South Andaman District was recently convened at the Deputy Commissioner’s Office to assess the performance of banks under the Annual Credit Plan 2024 and various flagship schemes launched by the Government of India. The meeting was presided over by Mr. Arjun Sharma, IAS, Deputy Commissioner of South Andaman.
During the meeting, Mr. Sharma emphasized the importance of prioritising lending to the Priority Sector and actively promoting the flagship schemes to ensure that the benefits reach the rural population. He urged all banks to integrate topics such as cyber fraud and financial fraud into their Financial Literacy Camps to better educate the public.
The Credit Deposit (CD) Ratio of the district was reported to be 66.17%. Mr. Sharma advised banks to bring their CD ratio below 60%, instructing them to improve their ratio to at least 60%. He also advised banks with high Non-Performing Assets (NPAs) to take corrective measures to recover these assets and improve their financial health.
The meeting was attended by key stakeholders, including Mr. Siddhartha Gupta, Regional Manager of SBI, who welcomed the participants. Other notable attendees included Mr. C. Raj, Director of RSETI, Mr. P.K. Ummer Farooq, Chief Manager of Lead Bank, Mr. Rahul Dhamani, DGM of NABARD, Mr. T. Phanindra from RBI Kolkata, along with officials from various government departments and banks.
This meeting marks a crucial step in enhancing financial inclusion and ensuring the effective implementation of government schemes in the South Andaman District.