Agri Business

Banks in Telangana achieve 70.39 per cent kharif season loan targets

Our Bureau Hyderabad | Updated on December 24, 2019 Published on December 24, 2019

During the Kharif season 2019, banks in Telangana disbursed Short Term Agriculture Production Loans of Rs 20,583.79 crore as of September 30, 2019 achieving 70.39 per cent of the projected targets.

The State Level Bankers’ Committee (SLBC), Telangana convened its 25th Quarterly Review meeting to review the performance of the Banks under Annual Credit Plan of 2019-20 for the quarter ended September 2019.

T Harish Rao, Telangana Finance Minister, and S Niranjan Reddy, State Agriculture Minister participated in the SLBC meet attended by top executives of State Bank of India, Andhra Bank, Syndicate Bank, Canara Bank and other Public and Private Sector Banks.

The meeting was presided over by Om Prakash Mishra, Chief General Manager, SBI & President of SLBC, Telangana and B. Ramesh Babu, Dy Managing Director, State Bank of

India, co-chaired the meeting.

According to the bankers’ meet, Banks disbursed Rs 5,264.50 crore towards investment credit in agriculture during FY 2019 -20 against a target of Rs 19,856 crore.

Under the Priority Sector, Banks together disbursed Rs 57,670.64 crore to borrowers during the FY 2019-20, achieving 70.45 per cent of targets.

During the period ended September 2019, Banks disbursed Rs 511.41 crore towards Education loans and Rs 2415.11 crore for Housing Loans.

Under the MSME category, banks disbursed Rs 28,040.20 crore, achieving 130.91 per cent of the targets.

An amount of Rs 7,164 crore was disbursed to 5,47,701 beneficiaries under “Credit flow to Women category” during the first half of this fiscal.

Under Pradhan Manthri Mudra Yojana (PMMY) scheme, as of September 2019 this fiscal, banks disbursed Rs.1888 crore to 2,37,783 beneficiaries

Total Deposits of the banks grew by Rs 27,235.70 crore (5.99 per cent) during the first half this fiscal and the total deposits were at Rs 4,81,507.89 crore as on September 30, 2019. Total advances of the Banks was at Rs 5,35,840.18 crore, resulting in marginal increase of 0.37 per cent at Rs. 1,966.11 crore.

The Cash Deposit ratio was at 111.28 per cent as against 117.52 per cent as on March 31, 2019 due to 0.37 per cent marginal increase in advances and 5.99 per cent growth in deposits.

Published on December 24, 2019
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