The district-level review meeting on banking held here on Tuesday urged banks to make financial inclusion fruitful by extending the reach of financial literacy in the State.

Banks in the district disbursed Rs.6,243 crore in the priority sector against a target of Rs.4,713 crore, registering an achievement of 132 per cent. In the agricultural sector, Rs.3,306 crore was disbursed against a target of Rs.1,890 crore.

CD ratio

With deposits totalling Rs.30,939 crore and advances coming to Rs.23,195 crore, the Credit Deposit ratio in the district has gone up to 75 per cent from 64 per cent last year.

In the services sector, Rs.2,671 crore was disbursed, while in the non-farm sector, the disbursement was Rs.265 crore.

Education loans touched Rs.856 crore and loans to micro, small and medium enterprises totalled Rs.1,864 crore.

The meeting was told that 2,00,000 new savings bank accounts were opened for crediting the wages of workers employed under the Rural Employment Guarantee Scheme.

V. Reveendran, Assistant General Manager, Reserve Bank of India, presided over the meeting convened by Indian Overseas Bank, Lead Bank to the district.

Education loans

The meeting also decided to conduct awareness programmes on education loans to explain schemes, repayment obligation and job opportunities of courses. MLAs B. Sathyan, Jameela Prakasam and A.T.George and District Panchayat president Ramani P. Nair spoke.

Indira Padmini, Chief Regional Manager, IOB and Convenor, Lead Bank, K. T. Thrivicraman, District Development Officer, NABARD, V. R. Muralidhar, Lead District Manager andR. Gireesh Kumar,Manager, Lead Bank, spoke.


Teaching the basics of financeAugust 4, 2012