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To monitor bank services in Tripura, Reserve Bank opens new office


June 1, 2011 - Agartala

The Reserve Bank of India (RBI) has set up sub office bank operations in Agartala to monitor banking services in the region better.

The RBI aims to improve the credit-deposit ration in Tripura, increase the agri credit flow and the number of bank branches to stimulate growth of industry, trade and commerce in the state.

RBI Governor D Subbarao, who inaugurated the sub office bank recently, said: "The credit deposit ration in Tripura is half of the national average about 33 per cent. We will try to raise it to 40 per cent during the year 2012.

"Controlling inflation is our priority and we need to bring the inflation levels down to acceptable levels in order to bring our growth to sustainable levels," he added.

Subbarao later conducted a state level banking committee meeting with other regional RBI bankers where he spoke on many subjects including making finance a part of the curriculum in schools to improve financial literacy and on the urgent need to curb inflation.

Tripura is now the second State in the North-East region to have an RBI office.

The new RBI office will function under the charge of a general manager to initially focus on development of banking in the state and gradually take up other central banking functions.

ANI

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