RBI Governor Holds Meeting with Bihar Bureaucrats
Patna: January 18, 2008
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RBI Governor in Patna
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Photo by Shashi Uttam |
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Reserve Bank of India Governor Y. V. Reddy, during his one-day trip to Patna on Friday asked the financial institutions to play a pragmatic role in the development of Bihar saying banks were one of the most important ingredients of any developed infrastructure and they should adopt a more constructing approach in the rebuilding process of the state.
Reddy, during his meeting with top state bureaucrats and senior bank officials including the State Planning Commission chairperson N. K. Singh at the Information Building said there was a definite change in the air in Bihar and banks should take full advantage of it keeping the interests of the common people in mind.
Later, at a meeting with Chief Minister Nitish Kumar at his residence, Reddy asked the Chief Minister to initiate steps that help improve the Credit-Deposit (CD) ratio in Bihar. "Transparency and promptness in relief works, improvement in the CD ratio, and better functioning of the check clearing houses are some of the areas that the state should be working on," the RBI Governor said.
Deputy Chief Minister Sushil Kumar Modi who also holds the finance ministry said that the government should conduct studies in state where the CD ratio is high and try to emulate their formula for similar success in Bihar.
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