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Port Blair, March 2: On the occasion of its platinum jubilee celebrations, the Reserve Bank of India today announced that it would adopt Rangachang village in South Andaman District and set it up as a model village. Rangachang will be the first village to be adopted by RBI in these islands.
Addressing a gathering of Bankers, Chamber of Commerce and media today at Hotel Fortunes Bay Resort at 3.00 pm, Shri CD Srinivasan, General Manager, RBI, Kolkata explained that by adopting a village, RBI intends to develop the village economy by disbursing loans to entrepreneurs, students apart from identifying potential entrepreneurs to include them under the loan scheme. The idea is also to make sure that the intended beneficiary gets their right, while the village is developed as a model.
Srinivasan further explained that there are many areas where the islands lack behind. Some of them are Credit Deposit Ratio, Credit Uptake Ration, Kisan Credit Card etc. Under the Credit Deposit Ration, the money collected from the depositor is to be used for islands development process but it has been observed that the banks here are yet to improve the Credit Deposit Ratio. One of the reasons for this is the non-existence of a local government. The UT is being ruled by the bureaucrats who come to the islands with an intention of getting a choice posting later.
The GM, RBI further explained that the islands are also lacking in ‘Credit Uptake in Agriculture’ as it is assumed that the potential of Agriculture in the islands is quite less compared to other parts of the mainland. He said that there are many areas in agriculture which can be developed, suiting to the situation of the islands. And this is possible only if there is a sincere efforts from the bureaucrats during their short tenure in the islands.
Addressing the gathering, Shri A. Madasamy, Banking Ombudsman, RBI, Chennai explained that every bank is supposed to disburse loans and if at all the bank refuses loan to anybody, the affected person/firm can lodge a complaint with him. Madasamy said, the RBI cannot make any bank to disburse loan but on receipt of any complaint, it can ask the bank to give valid reason for not doing so. Generally people are not aware of this in the islands and during his tenure only three complaints were received.
Shri G. Gopalakrishna, Executive Director, RBI in his address said, according to the 2001 census, the gross per capita income of the islands is the highest in the country. But it is observed that it has been decreasing gradually and the national average is overtaking the islands. This is not a good sign, he said while advising the banks to encourage the islanders to improve their income by reaching them.
The Executive Director also explained that there are areas where the banks are not willing to setup branches. For such cases there is model developed by RBI called ‘Business Correspondent Model’ where the NGOs, SHGs and other registered and recognized institutions can help the banks to identify entrepreneurs and disbursing loans on behalf of the banks.
Shri Sureinder Kumar, CGM, SBI on the occasion said the RBI’s Platinum Jubilee will be marked with ‘reach out to the common man’ where the banks will strive reach the remote locations which are not covered by banks. He further said that with e-banking, mobile banking etc. gaining popularity, technology will be the main driver of the banks in future.
Later a multimedia presentation on identifying fake currency notes was presented by Shri Babulal Karjee, GM, RBI which was followed by an interaction with the participants. |
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