HUBLI: There is need for creating awareness on the importance of banking services, Deputy Commissioner M.S. Srikar has said.
He was speaking after releasing a book on the financial inclusion programme during a review meeting of the District Consultative Committee and District Level Review Committee, Dharwad district, here on Thursday.
Capital mobilisation played a prominent role in the country’s fiscal progress. Realising its importance, the Union Government had introduced the programme of bringing all citizens under the banking sector, he said.
The fact that there was no need to pay any money while opening a bank account would encourage people to open accounts voluntarily and make savings.
The district administration and the zilla panchayat would extend help for implementing the programme in rural and urban areas. The programme provided great scope for expanding banking business, he said. Dharwad North MP Pralhad Joshi said the programme would help people strengthen their financial position and raise standard of living. The MP said there was need to give priority to the agricultural sector.
C.K. Parthasarathy, Manager, District Lead Bank, said that banks in the districts had exceeded the target under the District Credit Plan in the final quarter of 2006-07.
As against the target of loan disbursement of Rs. 841 crore, the bank had disbursed loans to the tune of Rs. 1,282.98 crore, registering an achievement of 153 per cent, he said.