Ranchi: Jharkhand’s finance minister Radhakrishana Kishore on Thursday said that central govt policies have led to a loss of Rs 22,000 crore to the state and urged all the banks to extend their support to ensure the state’s progress.Speaking at the state-level bankers’ committee (SLBC) meet in Ranchi, he said, “The Goods and Services tax rationalisation caused revenue fall by Rs 4,000 crore. The change in share of centre from 90% in MNREGA to 60% in the modified VB-G-RAM-G (Grameen) scheme led to additional shortfall by Rs 4,000 crore. Now, the MMDR act would further incur loss of Rs 14,000 crore.”He added that the banks’ annual credit plan was around Rs 1,73,000 crore, which was larger than the annual state budget. Apart from Centre and state govts, banks are a strong third pillar in economic development. “State govt would also try to mobilise extra revenue to make up for the revenue losses,” he said.Kishore also asked the banks to increase their coverage in the state while mentioning that as per the plan as many as 1,217 more branches were to be opened in Jharkhand. He said that banks must focus on the erstwhile extremist-affected areas like Budha Pahar in Latehar and Chattarochatti in Bokaro so that local people get employment and join the mainstream.“There should also be transparency in expenditure of banks under their corporate social responsibility,” he stressed, adding that the money must be spent on schemes like watershed in rural areas.Bank of India executive director and state chairman of SLBC, Rajiv Mishra, stressed improving customer services of banks and also called upon the lead district managers to contribute to the state’s development by increasing credit flow in their respective districts.BOI general manager Guru Prasad Gond informed that the credit-deposit ratio of the state during the first quarter ending in June 2026 reached 54.97%, which was an increase of 7.10% over the same period last year when the figure remained 51.32%.
