The Ernakulam District Collector, Mr P.I. Sheik Pareeth, has stressed the need to improve credit flow to the agriculture sector for the success of the Food Security Programme of the Government.
Presiding over the District Level Review Committee meeting of the banks here, the Collector, however, was of the view that education loans are not extended by all banks under prescribed norms. Some banks are deviating from the rules and delaying sanction of education loan. He said that he is getting several complaints related to education loans.
He also sought the support of the banks in achieving the target set for employment to one lakh persons by starting small cottage and village industries, as advised by the Finance Minister. The meaningful financial inclusion started in the district according to the instruction of the Governor, Reserve Bank of India, in Ernakulam, has to be made successful by collective efforts of all, he said.
The next bank Adalat for the District will be conducted on January 21, 2012 for settlement of small value loans in default.
Mr Ajith Patil, Secretary, Kochi Corporation requested the banks to promote schemes under ISHUP (Interest Subsidy for Housing to the Urban Poor) and BSUP (Basic Service to the Urban Poor). These schemes are for the betterment of the poor and banks need to take a little more risk, if required, for uplifting the downtrodden.
Corporation's effort
The Corporation, he said, is planning to have a Street Vendor Development scheme in national perspective to provide hygienic vendors in the city. He also said that the Corporation proposes to conduct a Loan Mela for speedy disposal of loans under these schemes.
As reported at the meeting, the bank deposit increased by Rs 685crores during June to September to a level of total deposit of Rs 38,463 crore. The advances decreased by Rs 3,882 crore during June to September to a level of Rs 52,304core. There has been a 55.85 per cent achievement under priority sector and 58.03 per cent overall achievement under District Credit Plan against the annual target, in the first quarter.
The CD ratio has decreased to 136 per cent as on September 30, from 97.85 per cent as on June 30. The share of priority sector lending as on September 30 was 34.76 per cent.
Mr Mayank Mehta, Deputy General Manager, Union Bank of India, Mr Jayaprakash.K.R, Lead District Manager, Mr K.D. Joseph, AGM, RBI, Mr Venu S. Menon, AGM, NABARD, top official from banks, various government departments, etc, have participated in the meeting.