Special Correspondent

Agriculture sector gets Rs.529.15-crore credit

KANNUR: Banks in the district have achieved 137 per cent of the annual credit disbursement target for the current fiscal.

This was disclosed at a meeting of the district-level review/district consultative committee for banks held here on Monday.

The banks disbursed Rs.3,195.45 crore against the total credit disbursal target of Rs.2,328.47 crore for 2009-10. The banks also recorded a disbursement of Rs.1,639.69 crore to the priority sector, as against the target of Rs.1,443.66 crore, a press release issued by the District Lead Bank here said.

An amount of Rs.529.15 crore was disbursed to the agriculture sector, it added.

Of the nine blocks in the district, Edakkad, Koothuparamba and Payyannur excelled in priority sector lending, the release said.

The total advances registered an outstanding level of Rs.5,163.72 crore, while total deposits stood at Rs.8,637.35 crore.

The priority sector advances touched 72 per cent of the total advances as against the mandatory requirement of 40 per cent. The agricultural advances stood at 26 per cent as against the 18 per cent stipulated by the Reserve Bank of India (RBI).

Additional District Magistrate P.K. Sudheer Babu presided over the meeting.