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Banks in Kannur achieve targets

Special Correspondent

Rs.4,643.43 crore disbursed during last fiscal


Rs.2,584.80 crore disbursed to the priority sector, an increase of 122.58 per cent

Credit to deposit ratio reaches 73 per cent; total deposits at Rs.5,789.98 crore


KANNUR: Banks in the district achieved all disbursal targets during 2007-08, having disbursed a total credit of Rs.4,643.43 crore during the fiscal year.

This was disclosed at the District Level Review Committee (DLRC) for Banks held here on Tuesday. K.P. Muralidharan, assistant general manager of Syndicate Bank, the Lead Bank of the district, in his keynote address at the meeting said that the districts total credit disbursal target for 2007-08 had been Rs.3,263.58 crore. But, the banks could disburse Rs.4,643.43 crore; which worked out to 142.28 per cent of the target.

The district could surpass the targets set in all sectors, including agriculture, industries and other priority sectors, with comfortable margins, he said.

In the priority sector, the achievement was Rs.2,584.80 crore as against the target of Rs.2,108.72 crore; an increase of 122.58 per cent. Sector-wise, the banks recorded credit disbursal at 129.68 per cent more than the target for agriculture and 151.84 per cent for industries.

Among the banks, the commercial banks stood at the top with 162.78 per cent followed by cooperative banks with 120.66 per cent. In the core sector of agriculture and allied activities, the achievement of commercial banks and the North Malabar Gramin Bank (NMGB) was 201.33 per cent and 110.08 per cent respectively.

The achievement of the commercial banks was 178.30 per cent of the annual target under the secondary sector consisting of industries, while the cooperative sector achieved 171.04 per cent.

Under the tertiary sector comprising educational, housing, retail trade and transport advances, among others, the cooperative sector performed well with 130.26 per cent of the target, while the commercial banks achieved 125.28 per cent.

Mr. Muralidharan also informed that the credit to deposit ratio of the district had improved by three per cent when compared to the position in the previous year and reached 73 per cent. The total deposits stood at Rs.5,789.98 crore and total advances at Rs.4,324.27 crore at the end of review period, he said. The priority sector advances touched 72 per cent of the total advances as against the required 40 per cent. The percentage of agricultural advances stood at 29 per cent against the stipulated level of 18 per cent, he said.

The meeting was also told that the NRI remittance flow to the district was comparatively low during 2007-08 due to various reasons, which affected the deposit growth in the district adversely. The trend, however, was now getting reversed as the remittance was picking up in the banks.

District Collector Ishita Roy urged the banks to implement the agricultural debt waiver and debt relief scheme announced by the Union Finance Minister with transparency to ensure that no eligible beneficiary was left out in the process.

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