The Hindu : Kerala / Thiruvananthapuram News : Banks exceed target in priority sector lending

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Thursday, Jul 31, 2008
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Kerala - Thiruvananthapuram

Banks exceed target in priority sector lending

Special Correspondent

Thiruvananthapuram: Commercial banks in the State have disbursed Rs.32,657 crore to priority sector in 2007-2008.

This is 108.79 per cent of the disbursement target of Rs.30,018 crore for this period. Of this, Rs.15,960 crore was for agriculture sector, Rs.2,392 crore for SSI sector and Rs.14,305 crore to other priority sectors.

This information was made available at the 96th meeting of SLBC which was held here on Wednesday. D.L. Rawal, Executive Director, Canara bank presided over the meeting.

The forum reviewed the progress in implementation of Agricultural Debt Waiver and Debt Relief Scheme – 2008 and noted that for the State covered 11 lakh farmer accounts with an amount of Rs.2518.12 crore.

The meeting was told that the total deposits of the commercial banking system as at March 2008 in Kerala touched Rs.1,05,488 crore. Out of this, NRE deposits accounts for Rs.29,889 crores. Total advances as on March 31, 2008 was Rs.75,305 crore.

The annual credit plan for 2008-2009 was launched with a target of Rs.36,194 crore for disbursement to priority sector.

Agribusiness

The project for promoting agribusiness in Kerala formulated by SFAC (Small Farmers’ Agribusiness consortium) was approved by SLBC forum and it was decided to implement it through banks in the State.

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