The Hindu Business Line : Karnataka: Banks lent Rs 2,520 cr to priority sector in Q1

Speaking at the 91st meeting of the State Level Bankers Committee (SLBC) here today, Mr K.M. Shet, Executive Director of Syndicate Bank and Chairman of SLBC, said the disbursement was about 23.99 per cent of the revised annual target for the current fiscal .

He said Rs 1,537 crore were disbursed for agriculture alone, 24.58 per cent of the target. The loan disbursement target for agriculture is fixed at Rs 6,253 crore.

The meeting was attended by the representatives of the state government, the Union Ministry of Finance, public sector banks, officials of the Reserve Bank of India and Nabard.

For drought relief measures, a total of 10,622 crop/Kisan Credit Card (KCC) accounts involving Rs 74.55 crore and 7,256 term loan accounts involving Rs 66.38 crore were restructured he said.

Besides, he added, the banks had granted fresh credit limits to 10,081 KCC accounts after rescheduling.

The RBI's Regional Director, Ms Devaki Muthukrishnan, said the SLBCs would soon have to address some of the exporters' issues as well. This was because the State Level Exporters councils had been done away with.

The functions would now have to be taken up by the member banks of the SLBC through a subcommittee, she added.

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Karnataka: Banks lent Rs 2,520 cr to priority sector in Q1