Bank Loan Crisis Details: Mahakumbh discussed a lot in the country and abroad. Crores of people from all over the country and abroad reached there. This strengthened the Indian economy. But this Mahakumbh created difficulties for banks. Due to Mahakumbh, now banks have no money to distribute loans.
The question may also come to your mind that how did the treasury of banks become empty due to Mahakumbh? The answer is that people withdraw a lot of money from banks to go to Mahakumbh. So now they do not have money to distribute loans.
According to the State Bank of India, the biggest liquidity crisis in the Indian system is being seen in the last decade.
Liquidity in banking system in November decreased from Rs 1.35 lakh crore to Rs 0.65 lakh crore in December. After that, this deficit was Rs 2.07 lakh crore in January and Rs 1.59 lakh crore in February.
The SBI report also said that RBI will have to cut the cash reserve ratio to pour capital in banks to increase liquidity.
It has also been said in this report that during Mahakumbh and other such major events, the number of cash withdrawal from banks increases. Retail deposits withdraw a lot of cash from banks during Mahakumbh and spent it there.
During this time, there was more withdrawal with the amount deposited in banks. This money has not yet been deposited in banks, due to which banks have decreased liquidity.
Earlier, after the SP meeting in February, the RBI cut CRR. Which was 0.50 percent. After the cut in February, the banking system had Rs 1.10 lakh crore. Now again RBI will have to cut CRR to increase liquidity in banking systems.
