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Banks in Wayanad disburse Rs.161 cr.

Special Correspondent

Total deposits stand at Rs. 758 cr.

KOZHIKODE: The credit-deposit (CD) ratio in Wayanad district increased to 176 per cent at the end of June 2006. It marks a significant rise from the 152 per cent registered during the financial year ending March 2005 and 174 per cent during the year ending March 2006. This was stated at a district-level Review Committee Meeting for Banking Development held at Kalpetta on Friday.

Wayanad is the only district in the State where the CD ratio is more than 100 per cent. A high CD ratio indicates a high volume of lending by banks in the predominantly agricultural district, where a high rate of suicide by farmers has been reported of late.

The total deposit in the district as on June 2006 was Rs.758 crore and loan Rs.1,334 crore.

The meeting reviewed the performance of banks in the district for the first quarter of the financial year 2006-07. Banks in Wayanad disbursed Rs.161 crore under the priority sector during the first quarter. Out of this, Rs.138 crore was disbursed to the agriculture sector, Rs.1.14 crore to the small-scale industries sector and Rs.22.59 crore to the other priority sector.

Sharmila Mary Joseph, District Collector and chairman of the District Consultative Committee for Banking Development, presided over the meeting. Canara Bank's Calicut Circle deputy general manager K. Gopalakrishnan; Wayanad district panchayat's development standing committee chairman George Pothen; Reserve Bank of India lead district officer L.M. Ganeshan; National Bank for Agriculture and Rural Development district development manager P.S. Radhakrishnan; lead district manager S. Pavithran; and E.V. Ravindran, manager, Canara Bank, Kalpetta; spoke.

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