The Jharkhand government has directed banks that are yet to join the Guruji Credit Card Scheme to complete the process within 30 days. Finance Minister Radhakrishna Kishore has instructed bank officials to ensure that applications for education loans are not kept pending unnecessarily. The meeting also reviewed the expansion of banking services in rural areas and credit facilities for small businesses.
At the 97th quarterly meeting of the State Level Bankers' Committee (SLBC), Finance Minister Radhakrishna Kishore held discussions with bank officials on expanding the reach of the Guruji Credit Card Scheme. He directed banks that have not yet joined the scheme to complete the necessary formalities within the next 30 days. He also emphasised the timely processing of applications submitted by students seeking education loans.
The Jharkhand government introduced the Guruji Credit Card Scheme to help students facing financial difficulties in continuing their higher education. Under the scheme, eligible students can obtain loans of up to Rs 15 lakh for higher education at an annual interest rate of 4%.
However, loan approval is subject to the eligibility criteria of the scheme and the completion of the necessary banking procedures. The government aims to ensure that delays in documentation or processing by banks do not affect students' education.
During the meeting, the finance minister urged banks to prioritise education loan applications and ensure that cases involving students awaiting financial assistance are processed within the stipulated time.
The meeting also reviewed banking operations and credit disbursement across the state. The finance minister said an appropriate share of deposits collected by banks should be channelled towards the state's development and local requirements.
As of September 2026, the credit-deposit (CD) ratio of banks in Jharkhand stood at 62.60%, compared with 52.19% in September 2025. The figures indicate an increase in the proportion of deposits being deployed as credit over the year.
The government also stressed the need to improve access to banking credit in rural areas. Farmers, small shopkeepers and young people seeking to start their own businesses should be able to access bank loans when required.
Rural Development Minister Deepika Pandey Singh reviewed the availability of banking facilities in villages. She said the government was working to provide banking and digital services through panchayat buildings under its Digital Panchayat initiative.
In the first phase, 673 panchayats were identified, of which 335 locations received approval from banks. In the second phase, 1,848 locations were selected, with 571 receiving approval.
Combining both phases, a total of 906 locations have received approval so far. However, banking services have not yet commenced at all these locations, as further procedural formalities remain pending at several sites.
The expansion of banking facilities in rural areas is expected to reduce the need for residents to travel to distant bank branches for routine banking transactions. The initiative is particularly relevant for elderly people, women and other rural residents who have to cover long distances to access banking services.
Rural Development Minister Deepika Pandey Singh also highlighted the need to expand bank credit facilities for women associated with self-help groups. She said women should have more opportunities to work as Bank Sakhis and banking correspondents.
Discussions also covered improving access to loans for young people seeking self-employment and strengthening the process of connecting self-help groups with banks.
Several women in rural areas operate small businesses, and timely financial assistance is required to support the expansion of these activities.
Agriculture, Animal Husbandry and Cooperation Minister Shilpi Neha Tirkey, Finance Department Secretary Prashant Kumar, representatives of the Reserve Bank of India and officials from various banks attended the meeting.
The state government has given banks 30 days to join the Guruji Credit Card Scheme. The number of banks that complete the process within this period and the action taken on pending education loan applications will become clear in the coming days.
