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Patna, (Bihar Times): The chairman-cum-managing
director of the Punjab National Bank, K C Chakrabarty,
said that Bihar government’s warning to withdraw its
deposits from the commercial banks following slump in
the credit deposit ratio (CDR) will have no impact on
the banks.
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He told reporters on Tuesday that “we are not afraid
of the government warning.” Only a couple of days back
the Deputy Chief Minister-cum-Finance Minister, Sushil
Kumar Modi, warned that the state government would
withdraw its deposits from the commercial banks if
they fail to improve the credit-deposit ratio and
fulfil the target of distribution of Kisan Credit
Cards among the farmers.
The Credit-Deposit-Ratio is the amount of bank’s loan
divided by the amount of its deposits at any given
time.
The CMD minced no word to say that the state
government is free to withdraw its deposits. Public
sector banks are giving credit but the deposits are
being given to private banks, he said.
Chakrabarty said that his bank was trying its level
best to boost credits but this could be possible only
when a state had a viable infrastructure. He took the
state government to task for poor condition of roads.
To buttress his argument further he said that it took
four hours for his vehicle to reach Kochi panchayat
under Gurua block of Gaya district as the roads were
in extremely bad condition. He said he got a backache.
On alleged corruption in issuing Kisan Credit Cards to
farmers in Bihar, he said, corruption was pervasive in
the society and “we have a mechanism to check it.” He
appealed to the people to cooperate with PNB by
referring specific cases of bribe being sought by the
bank officials.
The CMD said the bank management would take stern
punitive action against those found to be involved in
corruption.
comments...
It is indeed very sad that people like Chakrabarty holding such senior positions make such irresponsible statements. He should know that the adverse credit deposit ratio is a real problem which needs a solution, not an ego fight. The FM of Bihar is trying to draw attention to a very important problem and seeking a solution.
To explain it simply, for roughly every Rs 100 that is deposited in Bihar, only Rs 30 is given as advance. In effect, this turns the most poor state in the country a net exporter of capital! As a PSU organization, it is the bounden duty of PNB to correct such anomalies. Last I heard, India was a democratic republic and Bihar was a state of the country. The statement of this CMD makes me feel Bihar is a colony to be exploited by the instruments of the state undertakings.
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Thakur Vikas Sinha
tvsinha@gmail.com
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