RBI must recognize the mandate and the mission of local banks and be more sensitive to the needs of peripheral economies in the country
….Reserve Bank of India (RBI) governor D. Subbarao, during a visit to Jammu recently, seems to have been disturbed by the abysmally low level of credit-deposit ratio—just 35% in 2011—in Jammu and Kashmir (J&K). For a professional, this reflects a rather poor state of banking affairs. But for the local businessmen it is a way of life. A credit-deposit ratio of 35-40% has been an endemic feature of the state for almost as long as one can recall; except for a brief interlude.…..
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