Bankers' meeting: The Chairman and Managing Director of Syndicate Bank, N. Kantha Kumar (centre), addressing the 93rd meeting of the State-level Bankers' Committee (Karnataka) in Bangalore on Thursday. On the dais with him are (from left) the Chief General Manger of the National Bank for Agriculture and Rural Development, B.B. Mohanty; the Additional Chief Secretary and Development Commissioner, Abhay Prakash; the Executive Director of Syndicate Bank, K.M. Shet; and the Regional Director of the Reserve Bank of India, Devaki Muthukrishna. — Photo: K. Gopinathan

BANGALORE: The Regional Director of the Reserve Bank of India, Devaki Muthukrishna, has urged the State Government to release Rs. 450 crores to district cooperative banks towards the loan waiver scheme.

She was addressing the 93rd meeting of the State-level Bankers' Committee (Karnataka), which reviewed the performance of banks in extending credit support to the agricultural sector till February 2005, here today.

Speaking on various issues related to the banking sector, she emphasised that banks should issue Swarozgar credit cards to improve lending to the weaker sections.

`Implement report'

Referring to the credit flow to the agricultural sector, she said banks should adopt the Vyas Committee report. The RBI has issued a master circular in connection with lending to small-scale industries sector, she added.

Thanking the bankers for their support to various sectors, the Additional Chief Secretary and Development Commissioner, Abhay Prakash, emphasised the role of bankers in the implementation of recommendations of the D.M. Nanjundappa Committee on regional imbalances. He urged the bankers to extend maximum credit to the needy in the backward areas.

The Chief General Manger of the National Bank for Agriculture and Rural Development, B.B. Mohanty, stressed the need for active participation by banks and financial institutions at the district-level committee meetings.

The meeting reviewed the credit support extended to priority sectors and the execution of development schemes till December 2004.

The Chairman and Managing Director of Syndicate Bank, N. Kantha Kumar, who is the Chairman of the State-level Bankers' Committee, said banks have extended credit amounting to Rs. 6,705.87 crores till February 2005. The amount disbursed was more than the revised annual target of Rs. 6,253.14 crores.

About the performance in other sectors till December 2004, Mr. Kumar said banks have an aggregate deposit of Rs. 85,276 crores and have extended advances of Rs. 60,683 crores. They have invested Rs. 2,796.62 crores with the State Government, he added. As on December 31, 2004, 1,18,534 accounts with an outstanding balance of Rs. 125.53 crores were pending under the Revenue Recovery Act.

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