Simplify loan and insurance claim processes, focus on improving credit-deposit ratio: Dhami to banks
Tired of too many ads? go ad free now
Chairing a special meeting of the State-Level Bankers' Committee (SLBC) at the secretariat, Dhami stressed that resolving public grievances and promoting financial inclusion must remain top priorities. He called for greater efforts to improve the credit-deposit (CD) ratio across the state, particularly in the hill districts of Tehri, Pithoragarh, Rudraprayag, Almora, Pauri, and Bageshwar. The state's CD ratio rose from 54% to 54.26% in FY 2024–25, but the CM urged that it be pushed to 60%.
Dhami also proposed a statewide camp in Oct, where banks and departments will jointly address public issues and offer multiple welfare services on a single platform in every district.
During the meeting, officials noted that Uttarakhand has provided insurance coverage to 48,000 individuals per one lakh population under the Pradhan Mantri Suraksha Bima Yojana – well above the national average of 40,000. The average loan amount under the Pradhan Mantri Mudra Yojana in the state is Rs 93,900, significantly higher than the national average of ₹62,686.
Over 39 lakh bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana—the highest among Himalayan states. In FY 2024–25, the state recorded a 10.26% increase in loan advances and a 9.09% rise in deposits. The Veer Chandra Singh Garhwali and Mukhyamantri Swarozgar Yojanas have both shown steady growth over the past three years.
A total of 6,10,636 farmers have benefited from the Kisan Credit Card scheme, 67% of whom are small or marginal farmers. Credit linkage is active in 70.23% of Self-Help Groups (SHGs) in the state, with SHG numbers rising 21% in the past three years.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
10 minutes ago
- Business Standard
NLC India to invest ₹1.25 trn capex by 2030, bets big on renewable energy
NLC India Ltd, a public sector enterprise, is planning to invest ₹1.25 trillion by 2030 to expand its capacity from the existing 6.7 gigawatt to 20 gigawatt, Prasanna Kumar Motupalli, Chairman and Managing Director (CMD) of the company has said. He said, out of ₹1.25 trillion planned capex, the company will be spending around ₹65,000 crores on renewables and other green initiatives, while around Rs 45,000 crores will be earmarked for thermal and around 15,000 crores for mining. The official elaborated that out of the ₹65,000 crore capex on renewables, around ₹15,000 crore will be on the battery storage system. We are having an aggressive capacity addition plan, adding the renewable capacity as well as the conventional capacity to take the capacity from the existing 6.7 gigawatt to 20 gigawatt. For that, the Capex requirement is around 1.25 trillion by 2030, Kumar told PTI Videos. NLCIL is arranging finance for the planned capex of ₹1.25 trillion through internal accruals, domestic loans, Initial Public Offering's (IPOs), External Commercial Borrowings (ECBs), he explained. NLC is contemplating starting a consulting business abroad, initially in Sri Lanka, Bhutan, Nepal, Myanmar, Africa, and the Middle East and acquire battery mineral assets overseas especially in Vanadium, Cobalt, Lithium and Copper, among others, he said. Recently, NLC got two critical mineral blocks in Chhattisgarh and with that experience the company is exploring the possibilities of critical mineral mining abroad also. Some due diligence is being done for some lithium mines in Mali. And some copper and cobalt mines in the African state of Congo. So, we are open for exploration of critical minerals across the globe. We are finding opportunities and doing due diligence to take it forward, he said. NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC, is expected to go for an Initial Public Offering (IPO) during the current financial year aiming to enable value unlocking in the renewable business for its parent company. The proposed IPO will help raise funds for NIRL, which will likely be utilised for green energy projects. According to the official, NLC has already received in-principle approval to invest up to Rs 3,720 crore in NIRL, subject to necessary approvals and compliance with guidelines. NLCIL signed an agreement with the Telangana government to supply 200 MW renewable energy. The construction of the project in Gujarat is expected to be completed in the current financial year. NCL India earned a consolidated net profit of Rs 2714 crore on a total income from operations of Rs 15283 crore during the last financial year.
Time of India
15 minutes ago
- Time of India
Ahmedabad air crash: Insurers process claims across travel, personal accident, life, and credit-linked covers
Following the Ahmedabad Air India plane tragedy, insurance firms are processing claims. These claims include travel, personal accident, and life insurance. ICICI Lombard and Bajaj Allianz are handling claims related to the accident. IRDAI directed insurers to expedite settlements. Some companies have already settled claims quickly. Insurers are working to support the affected families during this difficult time. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A broad spectrum of insurance claims has been filed following the devastating Air India plane crash in Ahmedabad, ranging from baggage loss and hotel cancellations to personal accident and life insurance payouts , according to companies are processing claims from the families of victims who were covered under various policies, including travel insurance , life insurance, personal accident covers, and even Kisan Credit Card-linked policies.'We have received claims primarily under travel insurance and personal accident insurance products. These include accidental death, trip cancellations, loss of baggage and hotel cancellations," said Priya Deshmukh, Head of Health Products, Operations & Services at ICICI Lombard 'At ICICI Lombard , we are working on a priority basis to provide seamless assistance and ensure timely settlement. We remain committed to supporting our policyholders and their families during this difficult time,' she added in a response to claims come in the wake of the June 12 crash involving a London-bound Boeing 787 Dreamliner, which lost thrust shortly after takeoff from Ahmedabad airport and slammed into a medical college hostel in the Meghaninagar area. The crash killed 241 of the 242 people onboard and 19 on the ground, marking the deadliest aviation accident in India in a decade. Bajaj Allianz General Insurance said it had received three claims under travel personal accident coverage and one under marine cargo insurance. Marine cargo insurance typically covers goods in transit via road, rail, air, sea, or accident claims are reportedly among the most common, second only to life insurance payouts. However, most insurance firms have not disclosed specific numbers, citing the ongoing nature of claims processing In one notable case, a group personal accident policy covering 4,000 individuals in Mehsana district led to a settlement within a week of the crash, a representative said. New India Assurance has settled seven individual personal accident claims and five under group personal accident policies. One claim of ₹50,000 was processed under the Kisan Credit Card scheme Immediately after the crash, the Insurance Regulatory and Development Authority of India (IRDAI) stepped in with a circular on June 14, instructing insurers to fast-track claim settlements. The regulator directed companies to waive standard requirements like FIRs and postmortem reports, appoint nodal officers, and provide weekly claim updates starting June Max Life Insurance COO Manu Lavanya said the company had successfully processed one claim within hours. 'We were able to settle a claim for one of the victims of the tragedy within just three hours, which reflects our focus on empathetic action when it matters most,' Lavanya companies say they expect more claims to surface in the coming weeks as families gradually come to terms with the tragedy.
Hans India
25 minutes ago
- Hans India
Commerce & Industry Ministry clocks hectic week to push exports, big projects
New Delhi, July 13: The Ministry of Commerce and Industry has concluded a hectic week with Union Minister Piyush Goyal travelling across the country from Srinagar in the north to Bengaluru in the south for chairing various meetings to give a fillip to exports and industrial projects. The minister held a crucial meeting with the Chairman of the State Bank of India and senior executives from other leading banks, ECGC Ltd., and department officials in Mumbai to review and explore opportunities related to export credit. Based on ECGC's experience under the scheme of enhanced cover, ECGC has now proposed further modifications to make available adequate and affordable credit to a larger section of MSME exporters. The product facilitates the borrower accounts to be treated equivalent to 'AA' rated accounts with reduced cost of export credit to the exporters. In the meeting, Goyal said the ECGC can examine the extension of the scheme proposed for nine banks to all banks, so that the export credit offtake for the MSME Exporters can be increased. The minister visited Srinagar and met the delegation from the Kashmir Chamber of Commerce & Industry and the Kashmir Chapter of the MSME Development Forum. He also met representatives of the Jammu & Kashmir Fruits and Vegetable Processing and Integrated Cold Chain Association. In a clear message to traders in the region, the minister emphasised that the Centre will not compromise on sensitive sectors or regional concerns while negotiating market access with foreign partners. 'Traders need not worry. Whatever FTA we sign will keep the interests of Jammu and Kashmir and the entire country in mind,' he explained. In Bengaluru, the minister visited two Aerospace Special Economic Zone (SEZ) units: Unimech Aerospace Manufacturing Limited and Safran Hindustan Aeronautics Limited (HAL) Aircraft Engines Private Limited, both located at the Karnataka Industrial Areas Development Board (KIADB) Aerospace SEZ in Devanahalli. A review meeting was held to address key issues affecting major infrastructure projects in Gujarat and Rajasthan through the Project Monitoring Group (PMG) mechanism. The Centre fast-tracked big-ticket infrastructure projects worth over Rs 36,296 crore in Gujarat and Rajasthan at the meeting. A total of 22 issues related to 18 critical projects were taken up at the meeting. Among the major initiatives discussed was the Transmission System Strengthening Scheme for the evacuation of power from solar energy zones in Rajasthan and Gujarat, with a projected investment of Rs 14,147 crore.
