Banking Boom in UP: Yogi Sets Target for Higher Growth, Digital Push

Lucknow : Uttar Pradesh Chief Minister Yogi Adityanath expressed his satisfaction with the state's banking sector growth, highlighting a rise in the CD ratio to 58.59% and setting a target of 65% for the coming year. Banking business has doubled since 2016, reaching Rs 26.80 lakh crore.

Loan Disbursement and Financial Inclusion: Adityanath emphasized the crucial role of banks in providing financial support to youth and entrepreneurs. He urged banks to continue loan fairs and assured government support for training beneficiaries. He called for "mission mode" efforts to expand digital banking and financial literacy across all 75 districts.

Social Security and Inclusion: The Chief Minister praised the "One GP-One BC" program empowering women through banking outreach and instructed banks to support these "BC Sakhis" further. He emphasized the smooth availability of CCTV footage to law enforcement to ensure bank security.

Rural Development and Growth: Adityanath presented State Share grants to two rural banks and inaugurated various initiatives – distributing Kisan Credit Cards, opening new banking outlets, and providing tool kits to "BC Sakhis." He welcomed HDFC Bank's adoption of 150 villages under a rural development program.

Key Statistics:

• Loan disbursement doubled from Rs 13,745 crore in 2016-17 to Rs 30,043 crore in 2022-23.
• 2,42,097 new banking outlets established in 7 years.
• 167 lakh new beneficiaries added under Pradhan Mantri Jeevan Jyoti Bima Yojana.
• 459 lakh new beneficiaries added under Pradhan Mantri Suraksha Bima Yojana.

Moving Forward: The Chief Minister stressed the importance of regular meetings with bankers at state and district levels to monitor progress and address challenges. He believes these initiatives will further improve financial inclusion and empower citizens across Uttar Pradesh.