ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MAHARASHTRA-Consolidating Fiefdom

around 60 per cent, which was necessary to meet the needs of industry and other real sectors. Both from the point of view of availability of liquidity with the banking system and the present needs of industry, agriculture and trade, this norm of 60 per cent incremental credit-deposit ratio is required to be enforced by the RBI. As against a deposit accrual of Rs 14,112 crore, the scheduled commercial banks have extended only Rs 720 crore, or just about 5 per cent of deposit expansion, as total flow of bank funds during the current fiscal year so far up to June 6,1997. Considering the potential that exists for supply of funds as well as demand for user industries, the slack in credit expansion would be of the order of Rs 8,000 crore if only the current year's trends arc considered. If similar slackness experienced by the banking industry in 1996-97 is also included, the loss in credit potential works out to nearly Rs 20,000 crore in a period of 15 months since March 1996, MAHARASHTRA Consolidating Fiefdom THE Shiv Sena chief Balasaheb Thackeray recently convened a meeting of Shiv Sena members of Maharashtra's cabinet where each one of them had to submit in writing the achievements of his department and present his defence for its failures, if any. Apart from Thackeray in person, the meeting was attended also by other members of his family. The folders (of their achievements) collected from various ministers were passed on by the chief to his son for scrutiny. Within a few days of this exercise, the chief minister effected a substantial reshuffle of his cabinet, even though he had ruled out any changes in the government at this time just a short while before. Although no minister has been dropped, many have been shifted to what are considered less substantial and less fetching portfolios. By effecting the changes in the government despite the earlier stand of the chic! minister, Thackeray has once again shown his followers who is 'numero uno' in the present set up in Maharashtra. In addition, by passing on these self assessments to his son, he has also made it clear to his followers, including the ministers, the line of command in the party.

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