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Proceedings of the 118th Special State Level Bankersí Committee Meeting for the
State of West Bengal held on 30th May 2012

Proceedings of the 118th State Level Bankers’ Committee Meeting for the State of West Bengal held on 30th May 2012.                                                

The 118th Meeting of the State Level Bankers’ Committee ,West Bengal was held on 30th May   2012 at Kolkata where performance of the banks for the year 2011-12 was reviewed. The meeting was chaired and graced by Dr. Amit Mitra, Hon’ble Finance Minister of the State. Amongst the other dignitaries,  Shri Bhaskar Sen,CMD, United Bank of India and Chairman, SLBC( WB), Shri P.K.Jena, CGM, RBI, Shri S.Chandrasekharan, Executive Director ,UCO Bank ,  Shri D.Narang, Executive Director,UBI, Shri Surinder Kumar, C.G.M, SBI, Shri S.Padmanavan, CGM, NABARD, Shri Lalit Kumar , Director ( Insurance), Ministry of Finance & Nodal Officer, SLBC (WB), ,Shri R.K.Mohanty, GM(RM), UBI, Shri H.K. Dwibedi, Principal Secretary, Finance Deptt.(GoWB), Shri H. Mohan, Secretary, Agril. Dept., GoWB, Shri Ariz Aftab, Secretary, SHG & SE , GoWB were also present. Besides, top executives of State Govertment, RBI, NABARD and Banks participated in the meeting. A list of participants of the meeting is enclosed.

At the outset, Shri Ranjan Mohanty, General Manager, UBI and convener, SLBC West Bengal welcomed all the participants to the meeting. Shri Bhaskar Sen, CMD, UBI and chairman, SLBC (WB) greeted Hon’ble Finance Minister with flower bouquet on behalf of SLBC(WB).Thereafter,  Shri Sen apprised the house of the achievements of the banks in the State in the perspective of action   points emerged in the 116 th Special SLBC meeting held on 8th December 2011 which was attended by Dr. D. Subbarao , Hon’ble Governor, Reserve Bank of India and Dr. Amit Mitra, Hon’ble Finance Minister of West Bengal amid other dignitaries. His briefing inter alia included the following points.

  • He took pleasure to announce that all  the 7486 villages with population of 2000 + identified under FIP have been covered by banking outlets .The bankers deserve to be applauded for this commendable job well ahead of target date. He also conveyed thanks to the Government functionaries who actively extended support in touching the mile stone.
  • The bankers are now to intensify providing other services like KCC, GCC Micro Insurance etc in all these villages. Besides, existing villages where CSPs have already been set up are to be converted into Ultra Small Branches (USBs) within 30th June,2012. The bankers may follow the procedure adopted by Bank of India which has opened 1500 USBs across the country on a single day.
  • The CD ratio of the State has declined from 65% as on 31st March 2011 to 64% as on 31st March 2012 due to some macro economic factors that have affected the credit flow. Y-O-Y the deposits of the banks have increased by 17% compared to 15% growth in outstanding advance. However, the CD ratio of the State has improved from 62% as on Sept 2011 to 64% as on March,2012.
  • In the State of West Bengal there are 8 districts where CD ratio is less than 40%. A Seminar on CD ratio based on a study   conducted by Dept. of Statistics and Information Management (DSIM) , RBI was arranged on 24.05.2012 at the Head Office of UBI where CGM , RBI, and other senior officers of RBI, NABARD and banks  participated. Some of the limiting factors coming in the way of desired credit expansion were discussed in the meeting.
  • As against a target of 10.00 lac about 7.25 lac KCCs have been issued during the year 2011-12 compared to 5.49 lac KCCs issued during the year 2010-11. Although the performance is better than previous year, it has not reached the expected level despite holding special programme for disbursement of KCCs to all eligible/willing farmers. However, concerns are being expressed on fraudulent use of land records for obtaining KCC. The member banks should advise the branches for exercising more caution in dealing with such proposals.
  • During the year under review the banks have been able to credit link 93425 groups against annual target of 1.00 lac. The average credit involvement per SHG has increased in the State from Rs 43000/- as on 31.03.2011 to Rs 46000/- as on 31.03.2012. Still we have rooms for further development.
  • The issue of introduction of EBT has been discussed with the Chief Secretary, Govt.of West Bengal and it was decided that EBT will be introduced in four districts of the State on pilot basis. It is expected that implementation will start soon in the selected blocks of the identified districts.
  • The recovery position is deteriorating in the State over the years which are a matter of discomfort for the bankers. The NPA position is 5.86% which is considered very high as per industry standard. Recovery percentage under various schematic lending is also deteriorating over the years. Even under newly Introduced PMEGP scheme the recovery percentage is only 35% which is very disappointing. He urged upon initiation of concerted effort from both banks and Govt. Depts. to meet this challenge.

      
Thereafter, Sri Sen requested Dr. Amit Mitra, Hon’ble Finance Minister to preside over the meeting and enrich the house with his valuable deliberations:

Dr. Amit Mitra, Hon’ble Finance Minister of West Bengal at the outset requested the top executives of the Banks and Govt. Departments to introduce them and take part in the deliberations with their observationsShri Mitra while congratulating the bankers for the success they have achieved during the year also expressed concern for the under performance of the banks in some other areas as under:

a) The CD ratio of the State has declined from 65% as on 31.03.2011 to 64% at the end of March 2012. We need to look into the bottlenecks very seriously. It is a fact that growth of GDP in the State is in the range of 6.1% to 6.5 %, but despite this we have to work collectively to take the CD ratio of the State to a higher order.
The 44% CD ratio of rural areas is also a matter of great concern. There is lot of credit demand in the rural areas and from a micro research it is revealed that unmet rural credit demand is 68 percent. Besides, in 8 districts of the State the CD ratio is below 40% in spite of formation of sub – committees at the district level to introspect the reasons and implement remedial measures. As the position has not improved, there is need for definite research work.

The SLBC / RBI have to identify the causal factors through Regression analysis where all the independent variables within the dependent factors of CD ratio are to be considered. We have to find out the co-efficient factors so that we can focus on those casual modalities. He also stated that the State Finance Department has a full fledged Statistical wing which can provide all sorts of support to conduct the study. The task may also be assigned to ISI or any consultative Firm. The Bankers and the Government have to work collectively as partners.

More than 7.00 lac KCCs have been issued during the year 2012-13 but there are complaints from different corners that the utilization rate of KCC is very much disappointing. SLBC should know in how many cases the KCCs already issued are not being utilized. What could be the possible reason for such dormancy?

Comments made by :

Shri H. Mohan :
i) Delayed issuance of KCC particularly at the fag end of the year, defeats the very  purpose of issuing it.
ii) In absence of specific information from the banks, the Dept. is unable to identify the dormant cards and can not adopt remedial measures to activate those.
iii) In spite of best effort from SLBC, NABARD and RBI the decisions taken at the apex level are not always percolated to the branch level. A good number of sponsored applications are still lying unattended. It may so happen that some of the applicants are not eligible, but the reasons which made them ineligible should be communicated to them.
iv) Sub-Committee of SLBC on Agriculture should be more focused on the issue of Crop insurance, lending to Horticulture sector, Animal Husbandry sector etc  to work out definite time bound action points. The decisions taken in the Sub-Committee should be made binding on the banks.

Dr. Amit Mitra , Hon’ble FM suggested to have the 1st  meeting of  small focused group at his Chamber  shortly  with very specific agenda with representatives from Govt. Departments, RBI, NABARD, SLBC and Banks for sorting out the bottlenecks in credit flow to Agril. Sector and deciding specific action points to get the matter rolling. He also desired that the Banks should be represented by handson people who would be able to take decision.

Shri Bhaskar Sen, Chairman of SLBC confirmed that this meeting will be tentatively organized in the 1st week of June at the Chamber of the Hon’ble FM after getting the time from him.

Ms. A.Bhattacharjee,DGM,RBI  : The District Magistrates who are the  Chairmen /Chairpersons of DCCs often do not attend the DCC meetings causing loss of focus of such type of meetings.

Dr. Amit Mitra , Hon’ble FM said that he would issue letter to the District Magistrates  in this regard but at the same time it is to be seen that the DCC meetings are agenda driven and outcome oriented. He wanted to know the views of the Government Secretaries who also worked as DM previously.

Shri B.K. Dwibedi, Principal Secretary, Finance :  The Districts Magistrates  should take interest in the DCC meeting and they have to chase the meeting for making it meaningful. But often these meetings are conducted as stock taking meetings without any specific outcome. Sub –Committees of DCC are to be formed and the core areas/priority areas identified by RBI/NABARD are to be discussed for finding out the bottlenecks and evolving definite action points. In Maharastra, Karnatak , the  Sub-Committees of DCC are functioning very effectively.

Secondly, functioning of DCC should be an agenda of SLBC so that how the DCCs are functioning at different districts can be apprised at the SLBC.

Shri S. Kausik, Zonal Head, P.N.B.  :  The decisions taken at the DCC should be sent to the Controlling offices of the banks so that Controlling authorities can take interest and issue directives to the branches under their control. In that case the excuse raised at the ground level will not happen.                  

Shri Bhaskar Sen, Chairman of SLBC :   Shri Sen endorsed the views of the Pr.Secretary of finance and said that it consists of two parts - one is structural part and the other  is communication part. The Sub –Committees of the DCCs are to be strengthened as structural part and SLBC decisions should be binding on all stake holders so far as implementation is concerned. If any decision is taken by any Bank/ Agency different from the decision of SLBC, the reason must be referred to SLBC.

Dr. Amit Mitra, Hon’ble FM :  Dr. Mitra said that he was supposed to have a Video Conference with DMs and this now can be organized by the Finance Secretary on a suitable date  to get their views on how the DCCs are being conducted and  what is wrong, if any, with the DCCs. At this Video Conference the Secretaries of Agril. Department , Horticulture Deptt. and other   Govt. Depts., LDMS and representatives from NABARD,RBI and different Sub-Committees of SLBC should remain present.

C) Business Correspondents : 

Dr. Mitra, Hon’ble FM said that he has conducted one independent study in his own constituency through his men to judge the reality about the data furnished by the banks on appointment of BCs . The findings from three number of checks revealed that the villages namely Leningarh under Milkanda –I, Doparia under Bandipur and Balagrh – all having population above 5000 are without any BC. The purpose of mentioning this finding is to draw the attention of the bankers to go for a thorough check.

Secondly, can the SLBC provide data on quantum of loan generated by the BCs. If loans, particularly microcredit and other banking services can not be generated /provided by the BCs the concept of the BCs will have no meaning. From administrative point of view the BDOs should know the BCs. In the proposed Video Conference the DMs will be asked to help the BCs.

Comments By:

Shri Bhaskar Sen, Chairman of SLBC :  So far as coverage of villages is concerned, which village has been allotted to which bank and its mode of coverage is available in the website of SLBC.  In respect of generation of loan through BCs, as the enrollment process has just been completed, the BCs will take some time to become fully functional. After the enrollment process is over, we have to get Bio- metric cards for each individual from Bangalore that takes at least two months’ time. It is expected that after 3 or 4 months the matter of delivery of banking products by the BCs will be stabilized.
 
Shri R.K. Mohanty, GM, (RM) UBI :  BCAs are  generally resident of the village. With a view to make the profession viable and arrest the trend of quitting the profession, it has been decided by most of the banks that certain amount of commission will be paid to the BCAs for scouting of loan proposals and recovery of loans as well. At the second phase of financial inclusion, the banks will entrust the job of generation of loan proposals, marketing of micro insurance products etc to the BCAs.
Besides, as per directives of Ministry of Finance, all the CSPs will be converted to Ultra Small Branches by June 2012 and these USBs will be visited by the Branch officers of Base Branches at least once in a week on a fixed day & time to create confidence amongst the villagers that BCAs are representatives of the banks.

Shri A.K. Jha , LDM, Jalpaiguri District. :  Shri Jha referred to the problems that the banks are experiencing at the ground level with regard to functioning of BCAs. He mentioned that the functionaries of the local administration i.e Gram Panchayats are not even aware of the BCA concept. The Government should take steps for publicizing the concept amongst the officials at block level and Panchayet level so that the BCs get effective support while working in the villages.

Shri Bhaskar Sen, Chairman of SLBC :   Shri Sen informed the house that the District Magistrate of Murshidabad district has advised the Pradhans of Gram Panchayats to provide free space to the BCAs at the GP office for functioning from the GP offices and these centers can be treated as USBs. Although objective of FIP is to provide banking services at the doorstep, the house may decide whether the other districts may be pursued to replicate the initiative taken by District Magistrate, Murshidabad.
Dr. Amit Mitra , Hon’ble FM  endorsed the  idea of using the GP office as centre of functioning of BCAs. He also opined that as in the second phase of Financial Inclusion Plan the villages with population 1600 to less than 2000 will be covered by BC within 2013, the banks before undertaking this task should recheck the mater of engagement and functioning of BCAs in all the villages with population more than 2000.  The  implemented part should be reviewed on all points of view i.e  coverage of villages, enrollment, procurement of business, application of technology , operational hazard etc. 
d) “NO Frills “Accounts : 
Dr. Amit Mitra opined that though lacs  of No Frill accounts have been opened by the Banks, the transaction in no frills accounts is very very low. The reasons should be analyzed by the banks for procurement of Business.

Comments by:
Shri B.K. Dwibedi, Principal Secretary, Finance:  The banks will require to open more and more no frills accounts with the progress of implementation of EBT.   The transaction in No Frills accounts will also take place when all the   receipts and payments under different Government Schemes are to be made through electronic mode. As per directives of the Government, in some of the States like Odissa, Maharastra, Karnatak, the e-payment system through EBT has been started successfully. Some of the best practices of these States are to be followed in our State also. A separate Sub –committee of SLBC can be formed to take care of implementation of the EBT model in our State.
Besides, while making direct credit to the accounts of the beneficiaries through RTGS/NEFT, different banks are charging commissions at different rate. The charges may be standardized  for all the banks.
However, in our State the P & RD Dept. has been entrusted the responsibility of implementing the scheme. It has been decided that the scheme will be initially implemented in the selected blocks of the four identified districts.
Shri S. Kausik, Circle Head, PNB :  The large number of beneficiaries under MGNREGA and other schemes presently maintaining account with Post Offices will have to open account with the banks for implementing EBT effectively. The EBT can be successfully implemented if the principle of One District-many banks-one leader bank”  recommended by RBI is followed. The Govt. has to prepare a data base in a common format in both hard and soft form with some mandatory fields and the banks on getting the data from the Govt. sites will arrange to credit the accounts of the beneficiaries through NEFT.
Dr. Amit Mitra, Hon’ble F.M  requested Shri A.K. Das, Special Secretary and Director of Institutional Finance to look into the matter keeping liaison with the Finance  and P & RD Dept. of the Government.
Shri J.K. Pandey, GM , RBI :  The proposal of formation of a Sub –Committee for EBT placed by the Finance Secretary is welcomed as it will expedite the process through focused attention. The entire issue of introducing e-payment in four pilot districts as decided by the State Government can be taken under the care of the subcommittee for speedy implementation.
Shri Bhaskar Sen, Chairman of SLBC : In respect of opening of no frills accounts the bankers have been requested for undergoing  cross checking with the electoral rolls so that it can be ensured that at least one no frill account has been opened for each rural house hold. But co-operation from local administration is very much essential for undertaking this study. So far as streamlining of commission etc is concerned, we may cross check the matter with our neighboring states and take necessary decision.
e)  SHG – Credit Linkage :  Dr Amit Mitra,  Hon’ble FM opined that though 93425 SHGs have been credit linked during the year 2011-12 which was marginally short of the Annual target, the average  credit to SHG i.e Rs.46000/- is very low in comparison to that  of other States. The banks should have a sincere look on it to ensure whether the branches are extending need based credit.
Comments by:
Shri Ariz Aftab, Secretary SHG & SE, GoWB  extended his thanks to the bankers for having nearly achieved the target of credit linkage of SHGs. At the same time, as per decision of the Govt. , he requested the bankers to raise the target of credit linkage to 1.50 lac during the year 2012-13. He also mentioned the interest subvention scheme on SHGs under which eligible SHGs will receive interest subvention over and above 4% of the interest charged by the bank subject to ceiling of 7%. The amount of interest subvention will be directly credited to the account of the SHG through electronic mode.
Shri Lalit Kumar, Director, Insurance, Dept. of Financial Services, MOF and Nodal Officer, SLBC (WB) emphasized formation of Financial Service Committee at both district and State level where Nodal Officers of Life Insurance Corporation and General Insurance Company will be the members apart from representatives of SLBC and NABARD. Although the name of the Nodal Officer of LICI was available due to non availability of name of the Nodal Officer of GICC the Committees could not be formed. However, the committees are about to be formed soon. Shri Kumar also expressed concern over the poor coverage under AIL crop insurance.
Thereafter, Sri Ranjan Kumar Mohanty, General Manager, UBI undertook Agenda wise discussion through Power Point Presentation at the instruction of Shri Bhaskar Sen, Chairman, SLBC and requested the members to interact on the issues.
1.Confirmation of proceedings of the 117th   Special SLBC meeting for West Bengal  held on 22 nd March 2012 :   Confirmed by the house.
2. Progress made against action points taken in 116 th  Special SLBC meeting :
i)  Coverage of target of 7486 villages under FIP :
All the 7486 villages identified under FIP have been covered by opening of B& M Branches in 185 villages, through BC model in 7197 villages and through Mobile Van in 104 villages. Bankers are to expedite recruitment of additional manpower and procurement of Laptops for running Ultra Small Branches. The Subcommittee of Financial Inclusion to identify one district and make a detailed study on implementation status.
ii)  Achievement of 65% CD ratio at the end of current fiscal.
At the end of March 2012  the CD ratio has improved to 64% from 62 % at the end of June 2012. Y-O-Y  the CD ratio has declined from 65% as on 31st March 2011 to 64% at the end of March 2012. The issue has been discussed earlier; hence not repeated for the sake of brevity.
III)  Achievement of target against issuance of KCC.
As against target of 10.00 lac , 724779 KCCs have been issued by the banks during the year 2011-12 compared to 549118 issued last year. The Agenda discussed in detail earlier. 
iv) SHG Credit Linkage:
93425 SHGs have been credit linked by the banks during the year 2011-12 which marginally fell short of the Annual target. Issue discussed earlier.
v) Study on status of GCC disbursement in four identified districts:
The report on the Field Study has been submitted on March 2012, the copy of which was annexed in the Agenda  Note Book of 117th SLBC meeting for discussion. In order to popularize the scheme, certain modification may be made in the scheme, the house opined.
vi) Bank lending according to cropping patterns of the District.
The LDMs have been advised to prepare credit plan based on cropping pattern of respective districts.
vii) No collateral security for loans up to Rs 10.00  lac  under MSME sector
Instruction on this score has been issued by SLBC on repeated occasion.
Agenda 3. Financial Inclusion :  The Progress made against coverage of 7486 villages with population 2000+ was covered in earlier discussions thoroughly.
As per instruction of Dept of Financial Services,MoF,GoI dated 18th May ,2012, the villages of 1600 to 2000 population ( as per 2001 census)  are to be covered under “Swabhiman” within March 2013. Accordingly, the list of such villages has been sent to each allottee bank for initiating action.
Agenda 4 . Achievement under Annual Credit Plan(2011-12) :

The banks have achieved 79% of the annual target of Rs 36300.00 crore under Priority Sector at the end of the year under ACP 2011-12. The growth rate in disbursement in Agriculture and MSE sector was 24.51% and 15.90 % respectively on y-o-y basis. The house noted the achievement.

Agenda 5. Review of reports received from different Sub-Committees of SLBC:

Formation of a Sub – Committee for FLCC to deal with the matters exclusively for FLCC was approved by the house. The decisions that emerged in the  meetings of Subcommittee for RSETI  and Subcommittee of MSME held on 05.09.2011 &09.01.2012 respectively were noted and ratified by the house. The items that were discussed in the subcommittee meeting on Financial Inclusion, held on 30.03.2012 have been covered earlier.

Agenda 6. Progress in Savings Linked and Credit Linked SHGs during 2011-12:  Already covered.
                  
Progress of credit linked Self-employment Programme :  85092 nos. of self-employment cases have been sanctioned and 60661 cases disbursed by the banks during the year 2011-12 including spill over cases of 2010-11. The house noted the progress. Details of the performance of Banks under different schemes including ACC, SCC, LUCC etc have been given in the annexure of the Agenda book.
The performance of the banks in disbursement of loans under Education and Housing Loan Scheme, loans to the Minority and backward classes have also been given in the Agenda book. The house noted the incremental growth in disbursement under all these sectors.

Agenda 7. Improving Land Record and recovery Mechanism : The system of issuing certificates to the cultivators not having land in their own name needs to be streamlined so as to make them eligible for bank finance. It has been decided this year that the land possession certificates will be issued by the Additional Directors of Agriculture( ADA) to the eligible farmers for obtaining KCC up to a limit of Rs 50000/=.
The recovery mechanism is not functioning properly and the NPAs are increasing more or less in all the banks. The recvery measures like PDR Act and SARFAESI Act are not working effectively.
The house expressed concern over the rising trend of NPA and declining trend of loan recovery under all the sectors as a whole.

Agenda 8.  Detection of Forged Notes :  The salient points  related to detection of forged notes, stamping and impounding of Counterfeit notes, training of staff etc. were discussed in details.The gist of important precautions required to be taken by the banks were also highlighted.
 
Comments by:

CGM( RBI) :  The West Bengal State is most sensitive because of a number of border districts.  It might so happened that the forged notes have come in the system through counters. It is to be ensured that the forged notes are detected before it goes out. There should not be any  lapse on the part of the banks at this point. The RBI may assist in imparting training to the staff to enable them detect forged notes. If necessary, the banks may seek assistance from the nearest issue Office of Reserve Bank of India.  In Kolkata all the police stations have been cautioned and necessary training has been imparted to the Police Officials for facilitating detection of forged notes. It is, however, felt that to mitigate the problem of fine forgery, the ultimate measure has to be complete mechanization.

Shri Asit Sinha, LDM, South 24-Parganas:  The RBI may provide the LDMO with the leaflets, posters etc that can be distributed at different meetings for creation of awareness.

Agenda Item no. 9 : Payment through electronic mode : Already covered earlier with thread bear discussion.
Agenda Item no. 10 : Implementation of “ Revival, Reform & Restructuring Package for Handloom Sector :
As per directives of the Development Commissioner( Handlooms), the “Revival, Reform and Restructuring Package for Handloom Sector” has to be implemented from the current year as a new Centrally Sponsored Plan Scheme. Under the scheme, funds will be provided for repayment of 100% of principal and 25% interest as on date of loan becoming NPA which is overdue as on 31.03.2010 in respect of individual handloom weavers, master weavers,SHGs and JLGs who have taken such loans for handloom weaving purposes, provided the banksagree for sanctioning fresh loans.
In this regard a special SLBC meeting was held on 13.03.2012 at the Head Office of United Bank of India.
The Guidelines of the scheme were annexed in the 117th Agenda Book for ready reference.  
Agenda Item No.11 :  Fake land records and disposal of KCCs :

The issue of fake land records was discussed in a meeting of the small group of SLBC members, the proceedings of which is annexed in the Agenda Note Book. With a view to minimize the risk of fraudulent use of the land records, these may be made available on line where bankers may be given access to verify the ownership of the land. The concerned Dept.of the Government may seriously think over it.

It was decided that banks will instruct the branches for disposal of all pending KCC proposals by 10 th June , 2012 and send a report to SLBC on disposal of KCC proposals as on 31st May 2012.

Shri H.Mohan, Secretary, Agriculture Dept. informed that the Dept. has identified  470 nos.of plots for cultivation of different crops following improved practices  for the purpose of demonstration. The bankers are to issue suitable instructions to their branches to cover the cultivators of these plots on priority basis.

The major action points emerged in the meeting are as under:

  • One meeting of a small focused group  will be held tentatively in the 1st week of June at the office of the Hon’ble FM of the State to discuss the bottle necks in credit flow to Agriculture sector and take time bound action points.(Action: SLBC, Agril & Finance Dept. of the State Government) 
  • The Principal Secretary, Finance(GoWB) wiil arrange a Video Conference with the DMs of the State to have an interaction with them on functioning of DCC. The Conference will also be attended by LDMs and officials from Banks, SLBC, NABARD & RBI.( Action: Finance Department, GoWB)
  • The CD ratio of the State is to be improved to 65% and beyond that through identification of causal factors and adoption of necessary corrective measures.( Action: Banks, RBI, NABARD, Govt. Depts.)
  • Focused attention is to be given to increase the CD ratio of the districts where CD ratio is below 40%. The Subcommittee of DCC specially formed in the said districts should seriously handle the issue and evolve strategies for improvement of CD ratio.( Action: DMs, LDMs , Banks, Govt.Depts.)
  • In all the identified villages having 2000+ population where opening of convenient brick & mortar branch is presently not viable, the banks will set up Ultra Small Branches. The recent directive from the Ministry of Finance is that these USBs are to be opened by the Banks within 30th June 2012. ( Action : Banks)
  • The Banks will accelerate the pace of opening brick & mortar branches in the  villages having population 5000 + that were identified under Service Area Plan (NO.106) so that the target is achieved before time- line of September 2012. If  any bank opens Ultra Small Branch(USB) in any of those identified villages that will also be reported to SLBC through monthly progress report.( Action : Banks)
  • The Banks will initiate action  to cover the villages under FIP with population 1600 to less than 2000 within 31.3.2013.( Action : Banks)
  • All pending KCC proposals sponsored up to 31.05.2012 are to be disposed within 10th June 2012. The banks will submit the district wise position on disposal of KCCs as on 31.05.2012 to SLBC immediately.( Action : Banks)
  • 1.50 lac SHGs are to be credit linked during the year 2012-13 (Action SHG Dept. , Govt of WB, Banks, Nabard)
  • For achieving the target under Annual Credit Plan 2012-13 effort is to be made right from the beginning of the year. This will also improve the CD ratio. (Action : Banks & LDMs.)

Vote of Thanks :

Shri D. Narang, Executive Director, United Bank of India while extending vote of thanks, conveyed  heartfelt thanks to Dr. Amit Mitra, Hon’ble Finance Minister of the State for attending this 118th SLBC meeting and sparing his valuable time in the meeting and guiding the bankers on different  concurrent and burning issues. He upheld the advice of Dr Mitra in the matter of conducting a research work for identifying the bottlenecks for low CD ratio of the State as very pertinent  and observed that SLBC must think over it. Shri Narang conveyed  thanks to all the dignitaries on the dais,   senior officials of the State Government,  RBI, NABARD,  Banks and other Agencies for attending the meeting and taking active part in the deliberations.

He conveyed his special thanks to Shri P.K.Jena , CGM, RBI, Shri S. Chandrasekharan, ED, UCO Bank, Shri J.K. Pandey , GM, RBI, Shri  S. Padmanavan, CGM, NABARD for attending and enriching the meeting with the valuable views .  He thanked also Shri H.Mohan, Secretary, Agril Deptt., Shri Ariz Aftab, Secretary, SHG& SE, Shri  H.K. Dwibedi,  Principal Secretary, Finance Deptt for raising some very pertinent issues. He assured that the banks will give due importance to all those points. He also extended thanks to Shri A.K. Das, Dirctor of Institutional Financel and Special Secretary, Finance Dept. for his timely cooperation with the SLBC in case of any need.   In fine, he once again thanked all the participants for attending the meeting.

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