Bihar govt lifts ban on deposit from seven out of 14 banks

Patna,(BiharTimes): Following the improvement in their lending performance the Bihar government on Saturday lifted the ban on depositing money from seven out of 14 commercial and private banks. The ban was imposed a couple of months back.

A decision in this regard was taken at a review meeting of the State Level Bankers’ Committee held in Patna on Saturday under the chairmanship of deputy chief nminsiter-cum-finance minister, Sushil Kumar Modi.

The ban has been lifted from State Bank of Bikaner & Jaipur, Oriental Bank of Commerce, Dena Bank, United Bank of India, Indian Bank, Indian Overseas Bank and Axis Bank.

It needs to be recalled that the state government had, on August 21, 2012, decided not to deposit its money in those 14 private and commercial banks, which had got poor rankings in terms of credit-deposit ratio, disbursement of loans in priority sector, agricultural loans and issuance of Kisan Credit Cards. It had asked its officers, especially departmental heads and DMs, not to deposit government funds in the 14 banks till they improved their lending performance, particularly in the priority sector.

However, the ban would continue on Punjab and Sindh Bank, Vijaya Bank, Uco Bank, ICICI Bank, Andhra Bank, Bank of Maharashtra, and Bihar State Land Development Bank.

The state government had fixed four criteria to rate the performance of nationalized and private banks.




comments powered by Disqus


traffic analytics