Rs1,955 crore disbursed to priority sector
Banks in the district have disbursed ₹1,955 crore in the priority sector during the first quarter of the current financial year against the annual target of ₹9,961 crore.
Out of the total amount disbursed, ₹899 crore was for agriculture, ₹342 crore for micro, small and medium enterprises sector, and ₹714 crore for other priority sectors. These details were revealed at the District Level Review Committee Meeting of Banks here on Friday.
The credit deposit ratio of the district is 61% as on June. Total deposits is ₹73,753 crore and total advances ₹45,095 crore as on June 30.
Of this, advances to priority sectors were ₹22,692 crore which is 51% of the total advances and is well above the prescribed national benchmark of 40%.
Outstanding to agricultural sector stood at ₹7,627 crore and MSME sector ₹6,568 crore.
District Collector K. Vasuki on Friday inaugurated the meeting. Calling upon banking institutions to put on hold any proposed recovery action against Ockhi cyclone victims, Dr. Vasuki lauded the support extended by bankers in supporting the flood-relief activities spearheaded by the district administration.
Indian Overseas Bank regional manager T. Govindaraj, Reserve Bank of India (RBI) assistant general manager S. Sooraj, NABARD assistant general manager M.K. Brindha and lead district manager Abraham Shaji John spoke.