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Our Bureau

Thiruvananthapuram , Oct.16

THE credit-deposit ratio of commercial banks in Kerala stood at 61.25 per cent in the first quarter of the current year.

The State Level Bankers Committee, which reviewed the performance of the bank in the first quarter here, however, expressed concern over a fall in the bank deposits in the State. The deposits fell by Rs 303 crore as compared to the same period last year.

During the one-year period between June 2004 and June 2005, there had been a decline of Rs 7,061 crore in non-resident deposits. During the first quarter of the current year, the NRI deposits fell by Rs 392 crore.

The meeting noted that though there had been a rise of Rs 89 crore in domestic deposits in the quarter, the fall in NRI deposits resulted in the total deposits declining by Rs 303 crore. The NRI deposits at the end of the quarter stood at Rs 28,728 crore.

Mr B. Swaminathaan, Executive Director of Canara Bank, said that the banks disbursed Rs 4,141 crore to the priority sector during the quarter. The target for priority sector lending in the current year is Rs 19,271 crore, of which Rs 8,010 crore is earmarked for agriculture, Rs 2,614 crore for the small-scale industries sector and Rs 8,620 crore for other priority sectoRs

Mr N. Krishna Mohan, Regional Director, Reserve Bank of India, said that the banks, especially the new private sector banks, should show more social commitment. This factor had been incorporated in the new branch licensing policy of RBI. The social commitment of the banks would be considered while giving licences for new branches.

The meeting urged the State Government to facilitate more credit flow to the priority sector by declaring more centres as notified areas for equitable mortgage and by reducing stamp duty for government-sponsored schemes.

The meeting also called upon the Government to draw up a social security scheme in lieu of subsidies for farmers in order to prevent suicides among them. The meeting decided to give a one-time settlement offer to the `Akshaya' units in Malappuram district.

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