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Thursday, Jun 26, 2008
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Tamil Nadu

Tamil Nadu

Performance of banks evaluated

Staff Reporter

At Tuticorin district consultative committee meeting

Tuticorin: A meeting of the District Consultative Committee for Banking Development convened by the Lead Bank (State Bank of India) here on Wednesday evaluated the overall performance of banks in the district during the financial year 2007-08.

Chairing the meeting, M. Madasamy, Project Officer of Mahalir Thittam, said that the banks in toto received deposits to the tune of Rs.2,841.43 crore during 2007-08, registering a growth of 30 per cent over the previous fiscal.

Similarly, advances grew by 50.63 per cent in the last fiscal vis-À-vis 2006-07. “The banks disbursed loans to the tune of Rs.2,623.06 crore between April 1, 2007, and March 31, 2008”.

He said that the district had shown good credit absorption ability during the last financial year, which made the credit-deposit ratio stand at 96.55 per cent as against the Reserve Bank of India norms of 60.

The proportion of ‘loan-assets’ created from the deposits received by the banks was thus high.

He said that banks had achieved 112.75 per cent of the Annual Credit Plan for 2007-08 by disbursing loans to the tune of Rs 1,671 crore as against the plan of Rs 1,481.97 crore.

While the performance under agriculture and other priority sectors stood at 90.72 and 226.47 per cent, respectively, performance under non-farm sector stood at 49.23 per cent.

N. Thiyaharajan, Lead Bank Manager, said that the borrower’s eligibility criteria for availing loan under Differential Rate of Interest (DRI) scheme had been increased from this fiscal.

Accordingly, borrowers with an annual family income of Rs 18,000 in rural areas and Rs.24,000 in urban areas would be now eligible to avail the facility as against the earlier income criteria of Rs.6,400 in rural and Rs.7,200 in urban areas fixed by the Government in 1986.

He urged the bankers to finalise the list of farmers eligible for waiver of crop loans under the ‘Agricultural Debt Waiver and Debt Relief Scheme’ of the Centre, before June 30.

R. Bharat Kumar, Assistant General Manager of NABARD, and senior managers of various banks, participated.

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