Deposits of banks in TG up by Rs 72,795cr: SLBC report
Banks have disbursed Rs 37,769 crore as investment credit to agriculture and allied sectors, agri infra and agri ancillary activities achieving 96.04 per cent of the targets
Hyderabad: Deposits of the banks in Telangana grew by Rs 72,795 crore during the third quarter of this fiscal (October-December 2023-24) and the total deposits touched Rs 7,55,800.60 crore. Total advances with banks grew by Rs 1,40,293 crore and the advances of all banks were at Rs 9,54,189.83 crores, according to the report submitted by Rajesh Kumar, chief general manager of SBI, on the performance of banks, in the SLBC (state level bankers committee) meeting held here on Thursday.
Credit-deposit (CD) ratio continues to be above 100 per cent and it has gone up from 124.22 per cent to 126.25 per cent during the quarter.
During the last three quarters of this fiscal (April-December 2023-24), banks have disbursed short-term production loans amounting to Rs 49,501 crore achieving 67.41 per cent of the annual targets.
Banks have disbursed Rs 37,769 crore as investment credit to agriculture and allied sectors, agri infra and agri ancillary activities achieving 96.04 per cent of the targets.
Banks have disbursed educational loans amounting to Rs 624 crore and housing loans amounting to Rs 2,890 crore under priority sector during the current financial year.
Banks have disbursed Rs 85,799.65 crore to micro, small and medium enterprises (MSMEs) segment achieving 157 per cent of the targets.
Under Pradhan Manthri Mudra Yojana Scheme, banks have sanctioned Rs 7,895 crore achieving 74 per cent of the annual targets. Banks together have disbursed an amount of Rs 1,79,614.11 crore to various sections of borrowers under priority sector, recording an achievement of 96.92 per cent of targets.
Deputy Chief Minister holding finance portfolio Mallu Bhatti Vikramarka, who addressed the SLBM meeting, sought the support of banks in focusing more on women SHGs (self help groups) as the NPAs were very little in these accounts. He said that more and more micro enterprises are to be credit linked, which will bring in significant change in scenario.
From the view point of priority sector lending, he advised the banks to have more exposure in priority sector lending with a special focus on agriculture, housing and education loans to weaker sections. He further assured the banks of all needed support from the state government, in partnering with social development of the state.