Kerala - Kannur   

Banks in Kannur surpass credit disbursal targets

KANNUR: Banks in the district have surpassed the district credit plan target for the half-year ended September 30, 2007 under priority sector credit and total credit.

This was disclosed by K.P. Muralidharan, Assistant General Manager (AGM) of Syndicate Bank, which is the Lead Bank in the district, in his keynote address at the District Level Review Committee (DLRC) meeting held here recently. Under the priority sector, the banks could achieve targets under agriculture, industries and other sectors individually. The banks disbursed Rs.347.36 crore against the target of Rs.339.34 crore.

The meeting was inaugurated by Ramachandran Kadannappally, MLA. District Collector Ishita Roy, chairperson of the DLRC, presided over the meeting.

The banks in the district achieved a growth of 102.79 per cent of the half-year target and 51.9 per cent of the annual target of Rs.669.18 crore, a press release issued by the Lead District Office here said. Under the secondary sector comprising industries, the achievement was Rs.82.24 crore, which was 175.95 per cent of the half-year end target of Rs.46.74 crore. The annual target was 102.73 crore. The achievement under other priority sector consisting of housing loans, retail trade loans and educational loans was Rs.688.80 crore which was 106.19 per cent of the half-year target of Rs.648.48 crore.

The total credit disbursement in the district in the first half-year was Rs.2105.93 crore, which was 132.92 per cent of the half-year target of Rs.1,584.38 crore and 64.40 per cent of the annual target of Rs.3,267.21 crore.

The total deposits of the banks here as on September 30 was Rs.5,538.06 crore and total advances Rs.3,974.34 crore. The CD ratio was 70 per cent which was two per cent more than that of previous year.

The commercial banks in the district performed well with 127 per cent of the target under the priority sector, followed by co-operative banks with 109 per cent. The commercial banks also stood first with 130 per cent in disbursement of agricultulral loans. The North Malabar Gramin Bank emerged second with 118 per cent. Under the industries sector also, the commercial banks achieved good performance with 222 per cent growth.

The District Collector called upon the banks to concentrate more on the development of weaker sections, especially Scheduled Caste and Scheduled Tribe communities and minorities.

Reserve Bank of India AGM N.R. Pillai, Nabard AGM P.A. Premkumar and Lead District Manager U.P. Narayanan were also present.

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