Banks in Udupi district register 16 per cent growth

Speaking on the occasion, Assistant General Manager of Syndicate Bank regional office H Vasanth Nayak informed that total deposits of the banking sector in the district stood at Rs 6,804 crore showing a growth of 21 per cent and total advances stood at Rs 3,274 crore with a growth of 16 per cent at the end of June, 2009. The credit deposit ratio is 47 per cent, he added.

At the end of the first quarter, banks have dispersed loans to the extent of Rs 340 crore against the target of Rs 416 crore, there by recording 82 per cent achievement. Of this, Rs 166 crore has been disbursed to agriculture recording 129 per cent achievement. However, the secondary and tertiary sector is yet to pick up the momentum. Rs 38 crore is disbursed to industries and Rs 59 crore to tertiary sector. The total disbursement to priority sector is Rs 263 crore as against the target of Rs 316 crore. Rs 77 crore has been disbursed to non priority sector, he added.

Rs 292 crore has been lent for the upliftment of the weaker sections which includes Rs 43 crore to the SC/ST beneficiaries. As many as 777 farmers have been issued with Kissan Credit card facility. About 15,536 SHGs in the district are credit linked. The lead bank of the district has extended loans under its Synd Vidya Scheme to 139 students. Under the scheme 6 percent interest is charged to a student, Nayak informed. ZP President Gladys Almeida, CEO Prasanna Kumar, Lead Bank District Manager B Sathyanarayan, RBI Bangalore RPCD AGM (LDO) Ravi Kumar, NABARD AGM Praveenraj Udupa and others were present.