Kerala - Thiruvananthapuram   

Rs.917-crore loans distributed

THIRUVANANTHAPURAM: Banks in Thiruvananthapuram district disbursed Rs.917.04 crore as priority sector loans in the first half of this fiscal year, a press note issued by Indian Overseas Bank (IOB) here has said.

With this, priority sector lending crossed 49 per cent of the total advances in the district. This was disclosed at a district-level review committee meeting for banking development held at the Mascot Hotel on Thursday.

In the first half of the year, loans to the tune of Rs.504.75 crore were disbursed in the agriculture sector. This constituted 42 per cent of the target. The services sector witnessed disbursal of Rs.360.59 crore as loans. This constituted 24 per cent of the target. There was a credit delivery of Rs.51.7 crore in the industries sector by banks in the district.

The review report revealed that the CD ratio of the district was 70 per cent, with bank deposits of Rs.16,839 crore and advances of Rs.11,770 crore. Total priority credit in the district was Rs.5,793 crore, which was Rs.189 crore more than the disbursement during the past fiscal, the press note said. These figures pertain to overall credit disbursement of commercial banks, cooperative banks and the Kerala Financial Corporation in the district.

The priority sector disbursement touched Rs.917.04 crore as against the annual target of Rs.2,879.66 crore. The outstanding credit to agriculture, small-scale industries, SC/ST beneficiaries and education loans as on September 30, 2007 was Rs.1,594 crore, Rs.593 crore, Rs.252 crore and Rs. 302 crore, respectively.

Additional District Magistrate Sivarajan Nair presided over the review meeting. R. Lakshmi Narasimhan, deputy general manager of the IOB, Antony John, Lead District Officer, Reserve Bank of India; and Shaji John, Lead District Manager, participated in the meeting, the press note said.

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