The Hindu : Tamil Nadu News : Rise in advances given by Tiruvarur district banks

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Sunday, Jan 23, 2005

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Rise in advances given by Tiruvarur district banks

By Our Staff Reporter

TIRUVARUR, JAN.22 . The total advances given by banks in Tiruvarur district have increased from Rs.518.56 crores to Rs.548.80 crores, as on September, 2004, according to P. Ekambaram, Tiruvarur Collector.

Speaking at the third district-level review committee meeting of the banks for 2004-`05 at Tiruvarur recently, the Collector said that there had been an increase of 30.24 crores in advances. The credit-deposit ratio had also increased from 55 per cent to 63 per cent, which is above the Reserve Bank norm of 60 per cent. The agriculture advance also increased from 262.35 crores to 289.36 crores. There is an increase of Rs.27.01 crores, compared to June, 2004.

"If we take the performance of annual credit plan for the current year, the banks have disbursed the agricultural loan to the tune of Rs.100.64 crores as against the proportionate target of 96.42 crores'', the Collector said.

In the non-form sector, banks had disbursed Rs.2.12 crores as against the credit plan of Rs.2.86 crores. In other priority sector, the banks have disbursed Rs. 14.74 crores as against the credit plan of Rs.27.55 crores.

In total the performance is 93 per cent under the annual credit plan. Under SGSY scheme, the banks had sanctioned the revolving fund assistance to the tune of Rs.245.75 lakhs to 983 self-help groups, as against the target of 1000 groups and under economic activity, the banks had sanctioned Rs. 113.08 lakhs to 78 groups as against the target of 150 groups.

The Collector appreciated the bankers for their active involvement in sanctioning of loans under this scheme and asked the banks to complete the disbursement before month-end and concentrate more on key activity loans so that the income level of the self-help groups would increase.

G.Jayachandran, Senior Regional Manager of Indian Overseas Bank, Nagapattinam (Tiruvarur additional charge), said that Tiruvarur district had reached 63 per cent of credit deposit ratio for the first time and the achievement under annual credit plan was 104 per cent in agricultural advances. During this year, there was a good rain and the farmers would get more yield and better income.

K. Palanisamy, Assistant General Manager, National Bank for Agriculture and Rural Development (NABARD), participated in the meeting. T.Ramadoss, lead district manager, proposed a vote of thanks.

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