Haryana Chief Secretary calls for faster credit disbursement to beneficiaries, reviews banking progress

Chandigarh, Nov 10 (PTI) Haryana Chief Secretary Anurag Rastogi on Monday stressed the urgent need to bridge the gap between loan sanctions and actual disbursements to beneficiaries.

He was chairing the 174th State Level Bankers' Committee meeting here, an official statement said.

During the comprehensive review session, Rastogi urged banks to revisit their policies and ensure that timely and adequate credit flow reaches farmers. The meeting brought together senior officials from various banks, government departments, and financial institutions to assess the state's banking performance across multiple parameters.

The Chief Secretary appreciated the collaborative efforts of banks and government departments in promoting financial inclusion and supporting MSMEs, but emphasised that continued coordination between banks and district administrations remains essential for ensuring last-mile delivery of credit and financial services, especially in rural and aspirational blocks.

Rastogi sought detailed information from all banks regarding unclaimed government deposits and directed that a comprehensive report be submitted to the Commissioner and Secretary, Finance.

The Chief Secretary held extensive interactions with bank representatives, addressing key operational issues and suggesting measures to improve financial outreach and efficiency across the state, the official statement further said.

On the financial performance front, data presented at the meeting showed Haryana's banking sector continues its strong growth trajectory.

Total deposits stood at Rs 8,68,918 crore, while advances reached Rs 7,69,537 crore as of September 2025. The state recorded impressive year-on-year growth of 12.48 per cent in deposits and 14.36 per cent in advances, reflecting robust economic activity and improved credit outreach across sectors.

The credit-deposit ratio improved from 87 per cent to 89 per cent, comfortably surpassing the national benchmark of 60 per cent.

All districts in Haryana achieved CD ratios above the national goal, indicating widespread and balanced credit penetration throughout the state, it said.

Haryana's banking network has expanded to 5,582 branches, marking a net addition of 230 branches during the year. Public sector banks account for 2,733 branches, private sector banks operate 1,941 branches, small finance banks have 218 branches, and Haryana Gramin Bank maintains 690 branches across the state.

Under priority sector lending, banks achieved an impressive 121 per cent of the half-yearly target, disbursing Rs 1,89,741 crore against a target of Rs 1,56,572 crore.

While the agriculture sector recorded 99 per cent achievement, MSME lending surged to 145 per cent of its target, reflecting strong momentum in supporting small businesses and entrepreneurs. The meeting also reviewed progress under various central government schemes.

The SLBC also discussed critical issues, including the saturation of financial inclusion schemes, implementation of the Pradhan Mantri Fasal Bima Yojana, addressing unbanked rural centres, and strategies to enhance credit flow to weaker sections and small farmer segments. PTI SUN MR