The Hindu Business Line : Banks to extend loans to 2.8 lakh farmers in Kerala

The meeting noted that during the current year up to June 30, the banks had granted Rs 926 crore to the agriculture sector in the State. This was about 34 per cent more than what was achieved during the corresponding period last year.

To the priority sector, the banks had disbursed Rs 2,967 crore against the target of Rs 15,963 crore. Apart from agriculture, the small-scale sector received Rs 770 crore of loans during the period up to June 30.

Of the total disbursement target for the priority sector during the current year, an amount of Rs 6,432 crore has been earmarked for the agriculture sector, Rs 2,335 crore for the small-scale sector and Rs 7,169 crore for other sectors.

It was decided at the meeting that the banks, along with Krishi Bhavans and local panchayats, would conduct seminars at 25 select panchayats to identify the developmental needs of the areas and prepare suitable investment projects.

The meeting was presided over by Mr R.V. Shastri, Chairman and Managing Director, Canara Bank.

The meeting also decided to extend all support to facilitate income generation of poor women under the scheme for women in the primary sector.

Besides, a Centrally sponsored water-harvesting scheme for SC/ST farmers will be implemented.

In order to help the Coir Development Department implement its schemes, the banks will extend margin money loans to individuals, co-operatives and public sector undertakings. They will also support the technology upgradation schemes for the coir sector.

It emerged from the meeting that the total deposits in the State's banking system as on June 30 were Rs 65,548 crore, of which Rs 29,622 crore was accounted for by NRE accounts.

Total advances stood at Rs 34,336 crore, while total advances and investments in approved securities amounted to Rs 38,095 crore.

During the year up to August 31, loans of 12,826 farmers who were in distress were restructured; this involved a loan amount of Rs 17.79 crore.

Further, loans to 697 farmers were given one-time settlement amounting to Rs 83.96 lakh.

Mr Shastri announced that Canara Bank would contribute Rs 25 lakh to the Chief Minister's Relief Fund. He requested the other banks to contribute suitably to the fund.

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