Saturday , 17 November 2018
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Goa’s credit deposit ratio is lowest in country:  RBI official

PANAJI : General manager of the Reserve Bank of India in Goa, S T Kannan on Saturday said the credit deposit ratio in Goa is presently lowest in the country, standing at between 28 per cent and 30 per cent, and if the state wants to target at higher gross domestic product then it should have more investments here.

“Goa should focus on more and more industrial activities, as mining in the state has been severely affected, while tourism is also facing some problems,” he added, stating that Goa should strive for more diversified activities, locally, while ensuring environment protection.

“This will not only improve the economic movement in Goa but also ensure that local people doesn’t leave the state,” he observed.

The RBI along with the State Bank of India and 20 other banks, in the capacity of facilitators, has tied up with the Goa Chamber of Commerce and Industries in commemoration of the World Entrepreneurs’ Day, with an objective to encourage and assist the prospective local entrepreneurs in starting their own industrial units in Goa.

A related exhibition cum seminar will be held on August 21 at the Institute Menezes Braganza in the city from 2 pm onwards. The event will also have stalls of the banks, central as well as state governments, and micro, small and medium enterprises, besides educational institutions.

Coming out with this information, chairman of the National Council for Micro, Small and Medium Enterprises of Associated Chambers of Commerce and Industry of India Manguirish Pai Raikar said that around 200 prospective Goan entrepreneurs are expected to attend the seminar.

“These entrepreneurs belong to areas like service industry, ancillary to manufacturing units and utility services, besides others,” he informed, adding that some of these entrepreneurs will also be handed over sanction letters from banks.

Raikar informed that the seminar will come out with information as regards employment-related schemes/ products of the banks.

“We intend to make jobseekers, job givers through their enterprises by providing them with information as regards how to set and establish units in Goa,” he added, maintaining that this would make the economic vibrations happen in Goa.

Raikar stated the GCCI wants to promote Goa as an entrepreneurs’ hub. “We, in fact want to focus on the micro, small and medium enterprises in Goa as the state is small in size and has limited landmass for industrial and service sector,” he said, pointing out that the micro, small and medium enterprises generates more jobs as compared to the large industries.

The Goa Pharmaceutical Manufacturer`s Association, the Goa Technology Association, the Goa Institute of Management and the Goa University are also partners in this event.

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