Banks log 20.04 pc growth in deposits in district

Syndicate Bank Udupi Regional Manager H V Bharmgoudar, on Thursday, said total deposits of the banking sector in the district stood at Rs 15,875 crore registering a year-on-year growth of 20.04 per cent as on March 31, 2015.

Delivering key note address at the quarterly meeting of district-level review committee for banking in Udupi district held at the taluk panchayat hall here, he said the credit to deposit ratio had increased from 50.43 per cent to 51.70 per cent.

He said during the fourth quarter of the year 2014-15 banks disbursed loans to the extent of Rs 4,171 crore against annual target of Rs 5,066 crore, thus recording 82.33 per cent achievement. Of this, Rs 873 crore was disbursed to agriculture sector, Rs 830 crore to tiny and small scale industry sector, Rs 818.40 crore to tertiary sector, he said.

He said out of the total advances in the district, share of credit for upliftment of weaker sections was Rs 1,195.43 crore (outstanding) covering 1,02,210 beneficiaries, thus indicating 14.56 per cent against mandatory level of 10 per cent of total advances.
As at the end of the review period, 42,843 beneficiaries belonging to minority communities have been financially assisted to the extent of Rs 742.84 crore (outstanding) which is 14.50 per cent of the priority sector as against a stipulated level of 15 per cent, he added.

Bharmgoudar said banks have enrolled 1,08,814 customers under PMSBY, 53,577 customers under PMJJBY and 58 under Atal pension Yojana as on May 31, 2015 and they are under progress.

Speaking on the occasion, NABARD Mangaluru AGM (DD), Prasad Rao, advised bankers to concentrate  more on lending under agriculture sector, particularly under term lending.
He said for the area-based scheme 2015-16,  villages such as Mattu, Kukkehalli have been selected and for dairy development activity entire Karkala block had been selected, which requires effective supervising of the concerned controlling offices to have better implementation of the scheme.