The Hindu Business Line : Central Bank of India may achieve agri credit growth in AP

HAVING already achieved a growth of 21 per cent in agricultural advances in Andhra Pradesh, Central Bank of India (CBI) is confident of achieving 30 per cent growth stipulated by the Union Finance Ministry.

Announcing this while inaugurating Tulasinagar branch here on Sunday, the bank Chairman and Managing Director, Mr Dalbir Singh, said through 53 rural and semi urban branches, the bank financed 12,276 new farmers to the tune of Rs 32 crore up to December last year taking the total agricultural advances to Rs 257 crore.

According to him, the credit-deposit ratio of the bank in the State works out to 72.35 per cent, which is the second highest in the country after Maharashtra, the bank said in a press release.

The bank has already issued 12,994 kisan credit cards to the tune of Rs 28 crore during current fiscal year as against the target of 11,500 cards. Cumulatively, the bank has issued 50,414 cards to farmers with a credit limit of Rs 104 crore in the State.

Mr Singh said the bank has restructured loans of 4,555 farmers affected by natural calamities and provided fresh finance for raising crops. The bank is fully committed to growth in agricultural advances as per Government directives, he said. The bank is also extending all financial help and assistance to those affected by the tsunami disaster in the State.

The rural and semi urban branches constitute more than 50 per cent of the total network of 102 branches in the State. The bank is currently having a business of Rs 2,200 crore comprising of Rs 1,226 crore in deposits and Rs 996 crore in advances in the State. It has extended Rs 591 crore of loans in the priority sector, Mr Singh said.

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