K. Krishnamoorthi, Lead District Manager, toldThe Hindu here on Wednesday that as many as 32 new bank branches have been added in the district between April and June this year, taking the total number of branches to 741. This has expanded the banking services to more people.
In the last financial year (2014-2015), 67 branches were added in the district and this year, in just three months, 32 were added. Further, as against the Government norm of about 60 per cent credit deposit ratio, the district had registered 117 per cent. More bank branches and an increase in disbursement of credit had resulted in the district exceeding the annual credit plan target for the first quarter of this fiscal, he said.
The annual credit plan envisaged total a credit outlay of Rs. 12,150 crore for this year, and in the first quarter alone, Rs. 3,067 crore was disbursed as against the target of Rs. 2,964 crore.
This included Rs. 1,243 crore to the agricultural sector, Rs. 1,320 crore to the micro, small and medium-scale enterprises and Rs. 503 crore to other priority sectors, he explained.
The District Collector Archana Patnaik released the annual credit plan book on Wednesday. The book has details of bank branches, contact numbers of different departments and development schemes in the district. She urged the banks to surpass the annual credit target for this year.
Receiving the first copy of the book, the General Manager of Canara Bank, S. Krishnan said that the plan has the highest allocation of credit to the agricultural sector (42 per cent), followed by MSMEs (41 per cent).
Source: The Hindu
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