RBI assures support to TN in giving pension through bank accts

The Reserve Bank today assured its support to Tamil Nadu in providing pension through bank accounts scheme. RBI Governor D Subbarao, who chaired the bank's board meeting here today, stated this during a meeting with Chief Minister Jayalalithaa at the Secretariat.
"The Chief Minister solicited Reserve Bank's support for the State Government's initiative in delivering pensions through bank accounts and the Governor assured the Chief Minister that he will do so", an official statement here said. Subbarao assured her that the bank would accede to her request to start the scheme in Tiruchirapalli and Kanyakumari districts on a pilot basis. Jayalalithaa also discussed with the RBI Governor, the problems faced by textile units and Common Effluent Treatment Plants (CETP) in Tirupur. Besides, the Governor also invited Jayalalithaa to attend the State Level Bankers Committee meeting, the release said. Earlier, Subbarao and top RBI officers held talks with government officials and lauded Tamil Nadu's achievement in having the highest Credit Deposit ratio in India at 114 per cent. Other issues discussed during the meeting include routing of National Rural Employment Guarantee Scheme (NREGS), low coverage of crop insurance and measures to increase lending to Micro Small and Medium Enterprises (MSME),it said.