THIRUVANANTHAPURAM: The banks in the State have doubled the disbursements to the agriculture sector in two years. This was stated by Alok K. Misra, executive director, Canara Bank, while chairing the meeting of the State-level Bankers' Committee (SLBC) here on Tuesday.

The banks disbursed Rs.9,152 crores to the agriculture sector during 2005-06. A sum of Rs.23,303 crores was disbursed to the priority sector during 2005-06. This was 121 per cent of the disbursement target of Rs.19,271 crores for the priority sector for the year.

A sum of Rs.2,735 crores was disbursed to the small-scale industries (SSI) sector and Rs.11,417 crores to other priority sectors. The CD ratio of the banking sector in the State reached a 15-year high of 66.84 per cent. During the current year (2006-07), Rs.9,645 crores will be disbursed as loans to the agriculture sector.

The forum appealed to the Government to make the farm-insurance scheme more farmer-friendly by reducing the insurance unit size from the current level of district to at least the panchayat level. It was also suggested that the stamp duty for agriculture loans be waived.

The meeting decided to implement the pilot programme of 100 per cent financial inclusion in Palakkad district. A study to find out the indebtedness of farmers will be carried out throughout the State by the SLBC.

The meeting was told that the total deposits of the commercial banking system as in March 2006 in the State touched Rs.77,677 crores. Of these, NRE deposits accounted for Rs.30,671 crores.

The total advances as on March 31, 2006, were Rs.51,918 crores. Total advances and investments in approved securities/debentures were Rs.54,557 crores.

The total advances to the priority sector touched Rs.27,763 crores. This was 53.47 per cent of the total outstanding under advances.

The annual action plan for 2006-07 was also launched with a target of Rs.24,290 crores for disbursement to the priority sector, of which the agriculture disbursement target was Rs.9,645 crores and SSI disbursement Rs.3,473 crores.

N. Krishna Mohan, regional director, RBI, B.S. Shekhawat, chief general manager, NABARD, R. Prabha, general manager, Canara Bank, J. Sudhakaran, Secretary (SC &ST), and Sarada Muraleedharan, executive director, Kudumbasree, were among those spoke. P. Mohanan, general manager, Canara Bank, welcomed the gathering and V.R. Shenoi, assistant general manager, Canara Bank, proposed vote of thanks.

Printer friendly page  
Send this article to Friends by E-Mail