The Hindu Business Line : Banks to stick to debt waiver schedule

Banks in Thiruvananthapuram district will come out with a list of eligible borrowers and their entitlements mandated under the agricultural debt waiver and debt relief scheme before June 30.

This was announced at a meeting of the district-level review committee for banking development convened by Indian Overseas Bank (IOB), lead bank for the district.

These banks have also resolved to implement the National Rural Employment Guarantee Scheme by facilitating the opening of hassle-free savings accounts.

Priority credit disbursements in the district during 2007-08 fiscal were Rs 2935.41 crore, and beat the target of Rs 2879.65 crore (+102 per cent).

The agricultural sector saw Rs. 1420.33 crore (+118 per cent) being lent while services at Rs 1334.64 crore (+90 per cent) and the non-farm sector at Rs 180.44 crore (+94 per cent) followed in that order.

Cd ratio

Total deposits stood at Rs 19,031 crore and advances at Rs 13,198 crore. The credit-deposit ratio stood at 69 per cent. Outstanding advances to priority sector logged 48 per cent, way above the benchmark of 40 per cent.

Speaking on the occasion, Mr Panniyan Raveendran, MP, said that centralised processing centres for processing and disbursing loans should look at resolving the difficulties of borrowers.

Banks should follow hassle-free and transparent decision-making while dealing with requests for agricultural, housing and educational loans.

Ms J. Arundhati, MLA, expressed concern over winding up PMRY scheme without having an alternative self-employment scheme on board. She urged banks to continue liberally financing various schemes under the Kudumbasree poverty eradication programme.

Among those who attended the meeting were Mr Sanjay Kaul, District Collector; Mr Antony John, Assistant General Manager, Reserve Bank; Mr Xavier Thomas, Assistant General Manger, IOB; and Mr Abraham Shaji John, Lead District Manager, IOB.

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