The Hindu : Tamil Nadu News : `Crop loan disbursal liberal in Tiruvarur'

Online edition of India's National Newspaper
Tuesday, Nov 23, 2004

Tamil Nadu

Tamil Nadu - Others

`Crop loan disbursal liberal in Tiruvarur'

By Our Staff Reporter

TIRUVARUR, NOV.22 . Banks in Tiruvarur district have extended crop loans liberally. The total advances increased from Rs.518.56 crores as on June 2004 to Rs.548.80 crores as on September 2004, said G. Jayachandran, Senior Regional Manager, Indian Overseas Bank, at Tiruvarur recently.

Speaking at the district consultative committee meeting for the third quarter of 2004-2005 for Tiruvarur district, he said that the credit deposit ratio increased from 55 to 63 per cent as against the Reserve Bank of India norm of 60 per cent.

The outstanding under agricultural advances increased from Rs.262.35 crores to Rs.289.36 crores, within three months, indicating 53 per cent of total advances. He asked the bankers to sanction loans and complete the target before the end of this year.

P. Moorthy, District Revenue Officer, said that the banks had sanctioned revolving fund of Rs.196.75 lakhs to self-help groups but they should sanction loans to the remaining groups and achieve the target.

Regarding Prime Minister's Rozgar Yojana, banks had sanctioned loans to 44 landless people.

The banks should expedite the process of granting loans. Officials and non-government organisations should assist banks in this regard.

Hemavathy Santhanam, Assistant General Manager, Reserve Bank of India, appreciated the banks for exceeding the RBI norm in the credit deposit ratio. She asked them to disburse loans to SHGs in time.

K. Palanisamy, Assistant General Manager, NABARD, exhorted the banks to cover 915 SHGs under direct linkage.

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