The Hindu Business Line : MP registers constant increase in CDR over years

BHOPAL: Madhya Pradesh has registered a constant increase in its Credit Deposit Ratio (CDR) over the years and following improvement from March 2003 to September 2007 it has exceeded the national norms.

It means that the investment of money being deposited as savings in economic activities is growing in the State, an official release said adding in priority sector the advances were 61.87 per cent, which is higher than the national norm of 40 per cent.

The advances in agriculture sector are 35.87 per cent, which again is 18 per cent higher than the national norm. The same is the case with advances to the weaker sections, which is 13.55 per cent against the national norm of 10 per cent.

There has also been a remarkable increase in loan distribution for agricultural and allied activities as well as the performance of the state in disbursement of credit to weaker sections has also been very impressive.

The State government has implemented recommendations of Vaidyanathan Committee for which financial assistance totaling Rs 405.55 crore has been provided to District cooperative banks functioning in 38 districts of the State.

In micro finance sector, the self-help groups are making savings and expanding their activities through new businesses. They have been given credit of Rs 116.10 crore as loan and grants. - PTI

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