Economics • Banking & FinanceMedium
What is the principal mandate of the State Level Bankers Committee convened periodically in Chhattisgarh?
A. To coordinate banking development, review credit expansion, and resolve implementation bottlenecks across financial institutions operating in the state✓ Correct Answer
B. To directly audit the balance sheets of cooperative societies and district central cooperative banks
C. To set the statutory liquidity ratio and cash reserve ratio for scheduled commercial banks in the state
D. To determine the minimum support price for paddy procurement in state mandis
💡 Solution & Explanation
The State Level Bankers Committee serves as an inter-institutional forum where senior representatives of banks, state government officials, and regulatory bodies coordinate developmental banking initiatives, review credit plans, and address operational hurdles in financial inclusion. It ensures synergy between government welfare schemes and institutional lending targets. The lead bank in the state typically convenes these crucial consultative meetings.
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