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Our Bureau

Thiruvananthapuram, July 6 Kerala is just a few notches away from achieving total financial inclusion with the latest count at 97.5 per cent.

This emerged at the meeting of the State Level Bankers Committee (SLBC) held here on Friday. The target date for achieving the milestone was June 30 this year.

The meeting also discussed the annual credit plan for 2007-08 for the State with the disbursement to the priority sector having been fixed at Rs. 30,017 crore. Out of this, the target for the agriculture sector is Rs. 11,597 crore and for the small-scale industries sector Rs. 4,754 crore.

According to an SLBC release, the commercial banks in the State disbursed Rs. 27,724 crore to the priority sector in 2006-07, which was 114.14 per cent of the target of Rs. 24,290 crore for the year.

Out of this, Rs. 11,906 crore was for the agriculture sector, Rs. 3,208 crore for the small-scale industries sector and Rs. 12,610 crore for the other priority sectors.

The total deposits of the commercial banks during the year touched Rs. 91,697 crore. Of this, the NRE deposits accounted for Rs. 33,304 crore.

The total advances were at Rs. 64,273 crore, while total advances and investments in approved securities/debentures stood at Rs. 66,725 crore. The credit-deposit ratio reached an all-time high of 70.09 per cent.

The banks also sanctioned 28,961 PMRY loans during the year as against a target of 28,000.

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Kerala attains 97% financial inclusion

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