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Mr B. Swaminathan, Executive Director, Canara Bank, addressing the 86th meeting of the State Level Bankers' Committee in Thiruvananthapuram on Wednesday. - S. Gopakumar

Thiruvananthapuram , April 6

THE commercial banks will disburse Rs 19,336 crore to the priority sector in Kerala in 2005-06.

Out of this, the disbursement to the agriculture sector will be to the tune of Rs 8,019 crore, according to the annual action plan launched at the State Level Bankers' Committee meeting held here on Wednesday.

The meeting, chaired by Mr B. Swaminathan, Executive Director, Canara Bank, noted that as at the end of January 2005, the banks in the State disbursed Rs 5,009 crore to the farm sector, which formed 77.17 per cent of the target. Besides, about 2.46 lakh fresh Kisan Credit cards were issued in the State.

The banks also financed 3.63 lakh new farmers, disbursing Rs 1,457 crore. More than 27,000 farmers were benefited, involving Rs 142.73 crore, by the relief measures announced as per the new agriculture policy.

Of this, loans of 3,395 small and marginal farmers, amounting to Rs 13.17 crore, were settled under one-time settlement programme.

It was disclosed at the meeting that the Union Government has sanctioned an additional allocation of Rs 3.42 crore under the Rajiv Gandhi Tsunami Package for providing fishing equipment to fishermen affected by tsunami. This is in addition to Rs 245.94 crore already sanctioned under the package.

The additional allocation is to meet the enhanced subsidy rate (from 35 per cent to 50 per cent) permissible for financial assistance under the package.

The meeting decided to extend loans under "Akshaya" programme of the Information Technology Department of the State Government, which is now being extended to seven more districts.

Also, to give more thrust to the agriculture sector, the banks will increase the investment credit to the sector.

The banks will ensure adequate support to the sericulture sector by deploying credit under the Rs 180.98-crore Catalytic Development Programme of the Central Silk Board.

The meeting observed that the credit-deposit ratio of the commercial banks in the State had registered an increase of 7.86 percentage points since March 2004 to reach 56.17 per cent.

This indicated marked improvement in credit dispensation activities of the banks in the State. The meeting was informed that the banks disbursed Rs 12,215 crore to the priority sector during 2004-05. This is 76.37 per cent of the target of Rs 15,995 crore for the year. The total deposits as at the end of December 2004 touched Rs 66,440 crore. Out of this, NRE deposits amounted to Rs 28,937 crore.

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