The Hindu : Kerala / Thiruvananthapuram News : Banks urged to be liberal in sanctioning loans

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Saturday, Dec 23, 2006
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Kerala

Kerala - Thiruvananthapuram

Banks urged to be liberal in sanctioning loans

Special Correspondent

Collector stress the need to make banking transparent

THIRUVANANTHAPURAM: Members of the Legislative Assembly (MLAs) representing various constituencies in the district on Friday urged banks to be more liberal in sanctioning education and agricultural loans. Participating in the district level banking review committee, MLAs George Mercier, Anathalavattom Anandan and J. Arundhati called on banks to ensure time-bound sanction of loans to the needy.

Presiding over the meeting, District Collector N. Ayyappan highlighted the need to make banking more transparent.

Priority credit disbursement by banks in Thiruvananthapuram up to September in the current financial year crossed Rs.991.72 crore, against the annual target of Rs.2186.76 crore, registering an achievement of 45.35 per cent. The agriculture sector recorded the highest quantum of disbursement (Rs.477.33 crore) while the Services sector registered Rs.481.02 crore and the Industries sector, Rs.33.337 crore.

The Credit Deposit ratio for the district stood at 77 per cent, far ahead of the State CD ratio of around 66 per cent. The total deposits with all scheduled commercial banks amounted to Rs.12502 crore and advances totalled Rs.9578 crore.

Addressing the meeting, Mr. Anandan stressed the need to provide improved marketing facilities for products.

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