Special Correspondent

Achieves 129 per cent of the target for third quarter

District Credit Plan for 2009-10 released

Credit deposit ratio of the district at 63 per cent

KANNUR: Banks in the district have achieved 129 per cent of the credit disbursement target for the third quarter of the current financial year.

A press release issued by the Lead District Manager C.K. Thulasidharan here said that the banks exceeded the total credit target for the third quarter that ended on December 31, 2008. This was disclosed at a meeting of the District-Level Review Committee for banks chaired by District Collector Dinesh Arora on March 26. He also released the District Credit Plan for 2009-‘10 at the function.

As against the total credit disbursal target of Rs.2,937 crore fixed for the district for the third quarter of the current fiscal, the banks disbursed total credit of Rs.3,795 crore. The credit deposit ratio of the district was 63 per cent with advances totalling Rs.4,852 crore as against the total deposit of Rs.7,719 crore as December 31.

The priority sector advance was 72 per cent of the total advances as against the mandatory requirement of 40 per cent. The press release said that agriculture advances stood at 28 per cent against 18 per cent stipulated by the Reserve Bank of India (RBI). Financial institutions in the district had also recorded a disbursal of Rs.1,860 crore to the priority sector, of which Rs.472 crore was disbursed to agriculture and allied activities. Out of nine blocks in the district, Thalassery, Edakkad, Koothuparamba and Kannur excelled in priority sector lending.

V.P.G. Nayanar, Asst. General Manager (AGM), Syndicate Bank, the Lead Bank of the District, delivered key note address. K. D.Joseph, AGM, RBI; P.A. Premkumar, AGM, NABARD; C.V. Prasad, AGM, State Bank of Travancore and heads of various government offices in the district attended the meeting.