Driving Naari Programme launched in Chandigarh
* STRESSES ON TOTAL CASH FREE AND ONLINE TRANSACTIONS
* SLBC TO FOCUS ON UPGRADATION OF RURAL BRANCHES
Chandigarh May 14: Food Minister Punjab Mr. Adaish Pratap Singh Kairon today called upon the banking sector to tailor made the online and mobile banking system for the rural clientele to cover 75% of population living in rural areas in banking network.
Addressing the 132nd State Level Bankers’ Meeting presided over by the Executive Director of PNB, Mr. Gauri Shankar, here today Mr. Kairon said that banking sector would have to be innovative, aggressive while offering facilities to rural clients and should focus on 100% financial inclusion as that would be the first step for the banking sector of India to become global banking giants. He said that Indian Banks have potential to emerge as global banks only if they focus on including rural clients in their banking network.
Sharing the experiences of Food and Civil Supplies department Punjab, Mr. Kairon said that it was his initiative that payments worth Rs. 40,000 crores are being directly credited in the bank accounts of the farmers and traders that has totally diminished the Inspector Raj from the Food and Supplies department of the state. He said that he has been able to empower the farmers by issuing them the smart cards and the money being directly credited into their cards the moment they sell their produce in the mandis especially during the ongoing procurement season.
Emphasizing the need for bridging the rural urban gap in the banking sector, Mr. Kairon said that computerization and technology up gradation of rural branches would act as great leveler and banking sector would have to percolate to the remote rural areas of the country. He said that it was a matter of concern that credit disbursal of the bank could not keep pace with deposit collected from the state. He said that Punjab Government was focusing on strengthening of the rural areas and banks would have to become equal partner in this progress.
He gave a call to commercial, regional rural, cooperative and private banks of the state to focus on lending to farm sector and to below poverty line population and become catalyst of economic growth of state. The Minister said that it was matter of great concern that farmers of Punjab could not sustain the agriculture growth due to slow off take of farm credit. He said it was regrettable that credit deposit ratio last year declined by 4.32 percent from 85.49 percent in March 2013 to 81.17 percent in 2014 and further down to 79.24 in march 2015 reflecting that credit disbursal of the bank could not keep pace with deposit collected from the state. He said that Punjab Government was focusing on rural upliftment and banks would have to become equal partner in this progress.
While delivering his Key note address Mr. Gauri Shanker, Executive Director, Punjab National Bank & Chairman SLBC meeting explained the house of important initiatives taken by RBI and Department of Financial Services which had impact the State economy in general and banking sector in particular. He also informed that under Prime Minister Jan Dhan Yojna, as many as 39 lakh have been opened under this scheme covering all households in the state. He also assured the NABARD that the pending utilization certificates for the projects being executed in the state would be submitted at the earliest.
Prominent amongst others who were present included the DGM RBI Mr. Anjani Mishra, outgoing Chief General Manager, NABARD, Mr. Naresh Gupta, Chief General Manager, NABARD Mr. P.M. Gholay and Mr. M.S. Sarang Director Finance PUNGRAIN.
