The Hindu : Karnataka News : Banks in Chitradurga surpass target for lending

Online edition of India's National Newspaper
Thursday, Jul 07, 2005

Karnataka

Karnataka - Others

Banks in Chitradurga surpass target for lending

Staff Correspondent

Rs. 223.53 crores given as loans in priority sector

CHITRADURGA: Banks in Chitradurga district have registered an achievement of 104 per cent of the target in disbursement of loans to priority sector for 2004-05.

Narayanaswamy, Chief Executive Officer of the Chitradurga Zilla Panchayat, has expressed satisfaction over the performance of the banks.

He was participating in the district bankers' coordination and review meeting here on Tuesday.

As Chitradurga is a drought-prone district, the banks can expand their market by offering loans to farms.

S.B. Doddamani, Lead Bank Manger of Chitradurga district, spoke on the formulation of loan distribution plans in various sectors.

He said Rs. 223.53 crores have been distributed to priority sector in the district as against a target of Rs. 215.60 crores.

Under agricultural advances, the achievement is 114 per cent; the banks have disbursed Rs. 157.68 crores as against the target of Rs. 138.91 crores.

Service sector

The achievement in the disbursement of advances under service sector is 102 per cent; Rs. 60.99 crores have been sanctioned as against the target of Rs. 59.66 crores.

Hiriyur taluk tops the district in loan distribution with 110 per cent achievement. Hosadurga taluk stands last with 95 per cent distribution.

Challakere and Chitradurga taluks have made 105 per cent progress. Molakalmuru has achieved 99 per cent of the target while it is 104 per cent for Holalkere.

The banks have total deposits of Rs. 710.44 crores in the district and outstandings at Rs. 666.19 crores.

Lion's share

The turnover of all banks is Rs. 1,376.19. Of this, the Chitradurga Gramina Bank accounts for Rs. 353.21 crores.

In the advance sector priority loans amount to Rs. 535.61 crores exceeding the norm of the Reserve Bank of India.

Agricultural sector has been allocated Rs. 298.52 crores, which is 45 per cent of advances as against the Reserve Bank of India stipulation of 18 per cent.

The banks have advanced Rs. 134.37 crores for service sectors and Rs. 55.87 crores for small-scale industries.

Nearly Rs. 185 crores has been set aside forming 27.90 per cent of the total advances to disburse loans for weaker sections, he said.

Mythili, Manager from Reserve Bank of India, highlighted the recent developments in banking.

Geeta Saraswathi, Deputy General Manager of the National Bank for Agriculture and Rural Development, Chitradurga, stressed on the importance of lending to self-help groups.

N. Ramesh, chairman of Chitradurga Grameena Bank, explained the need for financing non-farming sector activities.

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