Kozhikode: The Malappuram-headquartered South Malabar Gramin Bank has registered a 20 per cent growth, taking its total business to Rs.3,144 crore in the last fiscal.

Briefing mediapersons after the meeting of the director broad here on Monday, bank chairman N.S. Bose said the deposits and advances increased by Rs.171 crore and Rs.359 crore respectively.

The credit deposit ratio of the bank stood at 123 per cent, which was the highest in any bank of the State. The State average is 70 per cent.

Ninety per cent of the loans were distributed in the priority sector. The credit flow to agriculture increased to Rs.1,208 crore against the target of Rs.1,055 crore, he said.

Mr. Bose said the regional rural bank was a scheduled commercial bank owned by Centre, State and Canara Bank in the ratio of 50:15:35 respectively. As of now, it had 218 branches spread in Malappuram, Kozhikode, Wayanad, Palakkad, Thrissur and Pathanamthitta districts. The total credit disbursement under the annual action plan was Rs.2,433 crore against the allocation of Rs.1,365 during the year.

The advances given to women came to Rs.377 crore and scheduled castes and scheduled tribes was Rs.32 crore. The recovery performance was at an impressive level of 91 per cent. The bank had earned a net profit of Rs.21.54 crore in the financial year, the chairman said.

To assist the farmers to overcome the effects of the severe adversities such as drought and fall in prices of agricultural produce, the bank had extended the relief measure of the Centre by waiving two per cent in interest rate to all short-term agricultural loans. Relief of Rs.6.85 crore had been given to 5,41,683 beneficiaries. Interest waiver amounting to Rs.9.08 crore was also extended to 12,516 farmers.

A sum of Rs.83.41 lakh was written off in 1801 accounts. This included Rs.24.17 lakh in 93 accounts of 80 farmers who had committed suicide, Mr. Bose said.

An attractive deposit scheme `Vajram' was launched with an effective annualised yield on interest of 11.31 per cent for senior citizens and 10.20 per cent for others. During the year the bank had given cash awards in 49 centres for SSLC toppers for the wards of the customers. The bank also assisted 8,963 self-help groups by disbursing Rs.46 crore. The total number of beneficiaries was 1,31,994 of which 95 per cent were women.

The bank also distributed Rs.3.76 crore to 902 members of the Kudumbasree under the Bhavanasree housing loan scheme.

It also issued 14,64,304 kisan credit cards with a credit assistance of Rs.419.25 crore, he said.

Mr. Bose said the bank opened two branches at Kuttanellore and Kanhani in Thrissur district. The area of operation would be extended to Thiruvananthapuram and Idukki districts. Chief Minister V.S. Achuthanandan would open the first branch in Thiruvananthapuram district on June 7.

Around 20 more branches and an area office would be opened this fiscal, he said.

Bank directors N.M. Madhavkrishna, T.K. Karunakaran, L.M. Ganesan and Shirsat were present at the news conference.

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