Need to bridge gap between loan sanctions, actual disbursements: Haryana Chief Secy tells bankers
In Chandigarh, the Haryana Chief Secretary, Anurag Rastogi, highlighted a key issue for the state’s economy: the gap between approved loans and the money that actually reaches farmers and other borrowers. Speaking at the 174th state‑level bankers’ Committee meeting, he urged banks to re‑examine their policies and speed up credit disbursement to keep the money flowing to the ground.
The meeting pulled together senior officials from banks, government departments and financial institutions. Together, they reviewed how well the state’s banking sector is performing. Rastogi praised the cooperation that has helped expand financial inclusion and support micro‑, small and medium‑enterprise (MSME) growth. But he stressed that true progress happens only when banks work closely with district administrations to deliver credit right to rural and aspirational areas.
Rastogi also asked all banks to report on unclaimed government deposits. He said a detailed report would go to the Commissioner’s office and the Secretary of Finance. That data will help identify missing funds and keep money in the hands of the people who belong to it.
The committee celebrated the success of the “Your Money, Your Right” program. This campaign has already re‑activated more than 825 dormant bank accounts, returning Rs 287.69 lakh to the rightful owners. The initiative showcases how simple outreach can reconnect citizens with over‑looked savings.
On banking performance, Haryana’s outlook looks solid. As of September 2025, total deposits reached Rs 868,918 crore, while advances stood at Rs 769,537 crore. Deposits grew 12.48 % YoY and advances jumped 14.36 %, beating the national average. The credit‑to‑deposit (CD) ratio rose from 87 % to 89 %, well above the national benchmark of 60 %. Every district in Haryana has a CD ratio higher than the national target, indicating even credit penetration across the state.
Branch coverage also grew. This year Haryana added 230 new bank branches, bringing the total to 5,582. Public sector banks now operate 2,733 branches, private banks 1,941, small‑finance banks 218, and Haryana Gramin Bank 690.
In short, Haryana is pushing banks to close the loan‑to‑disbursement gap, strengthen rural credit, and keep the banking network expanding—helping the state’s economy stay strong and inclusive.
Source: ianslive
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