The Hindu Business Line : IOB to ramp up priority sector lending in lead dist

INDIAN Overseas Bank, the lead bank for Thiruvananthapuram district, has decided to enhance lending to the priority sector, especially by financing self-help groups and issuing Kisan Credit Cards (KCCs).

Addressing a function at the suburban Vilavoorkal branch of the bank, the Chairman and Managing Director, Mr S. C. Gupta, said as much as 45 per cent of the bank's advance portfolio was directed to the priority sector, while lending to direct agriculture amounted to more than the prescribed 18 per cent. These percentages have been maintained for the last three years when incremental growth of advances amounted to Rs 2700 crore to Rs 3000 crore.

At Vilavoorkal, Mr Gupta inaugurated the credit linkage of women SHGs and gave away Kisan Credit Cards to farmers assisted by the local branch of the bank on Saturday. He announced credit linkage of 100 SHGs in the area, which are expected to absorb Rs 2.5 crore. He also distributed 30 Kisan Credit Cards at the function in which the bank honoured three of its best borrowers.

IOB has been associated with local bodies, government departments and non-governmental organisations and groups promoted by the bank itself in the task of financing self-help groups. During the last two years, the bank has assisted 32000 SHGs all over the country.

The Chief Regional Manager of the National Bank for Agriculture and Rural Development (Nabard), Mr B. S. Shekhawat, expressed happiness on the occasion that more and more financial institutions were becoming active partners in the SHG and KCC programmes evolved by Nabard.

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