There is vast difference in per capita deposits in different states depending on per capita income and saving level of people in different states. While per capita deposit is Rs. 392,666 for Delhi, it is as low as Rs. 12,127 for Bihar, reported Economic Times. This level of disparity could be reduced if we could provide more credit to people of states with lower deposit rates.
It is important to ensure that there must be justice as far per capita credit among various states is concerned. But again RBI failed to see that SCBs do justice in disbursement of credits among the states. While at Chandigarh per capita credit is Rs. 5,07,516 against as low as Rs. 3,450 for Bihar. This has certainly impact on economic disparities and growth potentials among various states. Due to this high credit deposit ratio and availability of higher per capita credit (over Rs. 5 Lakhs) Chandigarh’s growth potential is much higher than states like Bihar, Uttar Pradesh, Assam, and Lakshadweep etc. where per capita credit is less than Rs. 10,000.
RBI as regulator of banking system is supposed to address this disparities in credit deposit ratio and unfair disbursement of credits among various states and UTs. This has serious concern on growth potential of states and UTs, thus RBI need to see that SCBs should be fair in disbursement of credits among various states and UTs. This may reduce economic disparities among various states and UTs.
As per Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks dated April 03, 2012 published at the RBI website and Census of India Provisional report 2011.
Considering the above facts and figures, it is interesting to see that Kerela is having credit deposit ratio of 74.4% equal to national average. Barring Kerela, all other states and UTs with better Muslim population share have poor credit deposit ratios. This reflects injustice in part of Indian Muslims to utilize their savings for economic growth because Lakshadweep with 95% Muslim population has just 9.3% credit deposit ration whereas Chandigarh with Muslim as 3.95% population has credit deposit ratio of 149.23%.
States such as Uttar Pradesh, Bihar, Assam and West Bengal, etc. (with considerable Muslim population) have credit deposit ratios much less than all India average for credit deposit ratio and people living in these states have much low per capita credits compared to national average per capita credits pushes the people of these states behind the national average in economic growth.
Will the members of Planning Commission and our Parliamentarians take note of the above facts and figures?
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