Business Daily from THE HINDU group of publications
Saturday, May 31, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, May 31, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Fixed Deposits States - Kerala Kerala bank deposits near Rs 1 lakh-cr mark
Commercial banks have disbursed Rs 21,246 crore to the priority sector, which made up 70.78 per cent of the disbursement target. Of this, Rs 10,456 crore was extended to the agriculture sector alone. Our Bureau Thiruvananthapuram, May 30 The total deposits with the commercial banks in Kerala have ballooned to within a sniffing distance of the lakh-crore mark, according to statistics available by the end of year 2007. Deposits amounted to Rs 99,427 crore as on December 2007. Of this, NRE (non-resident – external) deposits totalled Rs 30,656 crore, the 95th meeting of the State-Level Bankers’ Committee was told here on Thursday. Total advances as on December 31, 2007, were Rs 71,067 crore, while total advances and investments in approved securities/debentures were to the tune of Rs 73,378 crore. CD RATIOThe credit-deposit (CD) ratio had touched an all-time high of 71.48 per cent while the credit plus investment ratio rose to 73.80 per cent signalling the increased credit dispensation in the State. Total advances to the priority sector touched Rs 41,664 crore, which is 58.60 per cent of the total outstanding under the head of ‘advances.’ Commercial banks have disbursed Rs 21,246 crore to the priority sector, which made up 70.78 per cent of the disbursement target. Of this, Rs 10,456 crore was extended to the agriculture sector alone. GOES ONLINEMr D. L. Rawal, Executive Director, Canara Bank, Convenors of SLBC, Kerala, presided over the meeting and also launched the exclusive Web site, www.slbckerala.com, on which all information/data connected to banking and development in the State will be available. In his address, Mr Rawal emphasised the need for banks to implement the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS) in a time-bound manner. The deadline for completing waver/relief operations of agricultural loans by banks is June 30. Mr Rawal suggested that each bank should have State-level nodal officers and grievance redressal officers for ADWDRS implementation. These and other details would be made available on the SLBC Web site. The guidelines of the scheme issued by the Ministry of Finance, Government of India, are also accessible through a link on the site. The Regional Director of the Reserve Bank, Kerala Region, Mr S. Ramaswamy, informed the meeting that all relevant information from the apex bank and Nabard would also be made available on the site. Mr Ramaswamy also released a booklet on results from a study on ‘Financial inclusion and mapping of indebtedness of farmers in Kerala’ initiated by the Indian Banks’ Association (IBA) and carried out by the Centre for Management Development (CMD).
More Stories on : Fixed Deposits | Kerala
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