The Hindu : Business : Priority sector lending in Malappuram up Rs. 331 crore

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Friday, Oct 13, 2006
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Priority sector lending in Malappuram up Rs. 331 crore

Staff Reporter

Banks told to popularise no-frills accounts, `smart village concept'

MALAPPURAM: The priority sector lending of the banks in the district witnessed a growth of Rs.331 crore in the April-June quarter. The lending grew from Rs.1,667 crore to Rs.1,998 crore, said K.V. Roshan Babu, lead district manager, at a district-level review committee meeting of the banks here the other day.

The credit-deposit ratio went up by two per cent to 61 per cent in the quarter. The deposit of the district was Rs.4,433 crore against last year's Rs.3,726 crore. Advances also increased from Rs.2,211 crore to Rs.2,700 crore.

Addressing the meeting, Mr. Babu said banks could help alleviate poverty and unemployment by adopting a village each under the `smart village concept' introduced in Malappuram.

He called upon the banks to introduce the smart village concept in at least one branch in the district. He asked the banks to popularise no-frills accounts.

Mr. Babu called upon the banks to goad their branches to opt Internet links so that they could take part in online revenue recovery (RR) adalats. Collector Premachandra Kurup presided over the function. T.K. Karunakaran, assistant general manager, Canara Bank regional office at Palakkad, delivered the keynote address.

L.M. Ganesan, assistant general manager, Reserve Bank of India, reviewed the performance under the District Credit Plan 2006-2007. V.P. Gopinathan, assistant general manager of Nabard, reviewed the performance under the agricultural sector.

M. Abdul Majeed, general manager of the District Industrial Centre, reviewed the Prime Minister's Rozgar Yojna performance.

D. Krishna Kumar Shenoy, lead bank officer, proposed a vote of thanks.

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