The Hindu Business Line : Bank deposits in Kerala cross Rs 1-lakh-cr mark

According to information made available at the 96th meeting of the State Level Banker’s Committee (SLBC) here on Wednesday, NRE deposits in the banks stood at Rs 29,889 crore as on that date.

Commercial banks in the State disbursed Rs 32,657 crore to the priority sector during 2007-08. This was 108.79 per cent of the disbursement target of Rs 30,018 crore set for the year. Out of the total disbursements, Rs 15,960 crore was to the agriculture sector, Rs 2,392 crore to small-scale industries sector and Rs 14,305 crore to the other priority sectors.

The meeting reviewed the progress in implementation of the Agriculture Debt Waiver and Debt Relief Scheme and noted that the scheme covered 11 lakh farmer accounts with an amount of Rs 2,518.12 crore in the State.

Advances

The banks’ total advances as on March 31, 2008 was Rs 75,305 crore and total advances and investments in approved securities/debentures Rs 77,137 crore. The credit-deposit ratio touched 71.39 per cent and the credit + investment deposit ratio 73.12 per cent, pointing to increased credit dispensation in the State.

The annual credit plan for 2008-09 has been launched with a target of Rs 36,194 crore for disbursement to the priority sector, out which the agriculture sector has been earmarked Rs 15,792 crore, while the disbursement to the SSI sector is envisaged at Rs 3,314 crore.

The meeting approved the Small Farmers’ Agribusiness Consortium (SFAC) for promoting agribusiness in the State. The project will be implemented through the banks.

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