Monday, June 01, 2009

Bihar bank deposits on the rise despite meltdown

Patna (PTI): Despite the economic meltdown, bank deposits in Bihar has recorded a 22 per cent increase in the past year, higher than bank deposits in several other states.

Deposits in nationalised banks rose from Rs 68,243.71 crore during 2007-08 to Rs 83,047.56 crore in 2008-09, an increase of Rs 14,803.85 crore, said Bihar Deputy Chief Minister Sushil Kumar Modi who also holds Finance portfolio.

If the deposits of the past two years are taken into account, then the increase is Rs 26,705.69 crore as the deposit in 2006-07 was Rs 56,341.87 crore.

The figures showed that the state was on the path of economic resurgence, Modi said adding this has happened due to a number of measures taken by the state government.

Quoting official figures, he said bank deposits in the state witnessed a quantum jump after 2005. Bank deposits in the state stood at Rs 46,133.80 crore during 2005-06.

The deposits increased though the banking structure in the state was inferior to other states, Modi said.

Source : The Hindu


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