"West Bengal's credit-deposit ratio has been consistently below the national average. Now the question is - Why this is low? Is it because banks are not lending or because of the mix of the lending opportunities and business opportunities?," said RBI Deputy Governor Subir Gokarn.
Gokarn said that one of the elements of an effective industrial strategy was to create business opportunities which would facilitate lending.
"Facilitation of credit flow is very important... no question about that. From the regulatory and development perspectives, we will clearly address the issue at the extent that we can, ensuring that any business that seems to be a legitimate lending opportunity is not denied finance because of some structural and administrative problem," he said.
He said that industrial growth had been slow in West Bengal than that of the all-India average, but that the state has potential competitive strengths in some industrial activities.
"The key sectors where the state can do well are metals, coal, textiles, and food processing," he added.