Over 3,100 students were given educational loans by banks in Ernakulam district during the quarter ending December 31, 2010. Deposits registered an increase of Rs.924 crore during the period, according to figures released here at the district-level review and consultative committee meeting under the lead bank scheme.
The meeting, which was inaugurated by K.P. Dhanapalan, MP, decided to convert Ernakulam as a model district in terms of financial inclusion, as suggested by D. Subbarao, Governor of Reserve Bank of India, during his recent visit to Vengoor west village in the district. Mr. Dhanapalan appreciated the performance of the banks under district credit plan 2011-12.
He observed that the performance in the micro, small and medium enterprises sector was not on expected lines. Pointing out that there were several complaints on educational and agricultural loans, he urged the banks to resort to extreme measures such as revenue recovery only after exhausting all other options.
The advances registered an increase of Rs.627 crore during the priod.
The increase in lending to agriculture sector was Rs.1787.5 crore. Under the district credit plan, there was 120 per cent achievement under priority sector and 122 per cent in over all performance.
M.M.Monaye, MLA, Mayank Mehta, Deputy General Manager, Union Bank of India, K.R.Jayaprakash, Lead District Manager, K.D.Joseph, AGM, RBI, Venu S.Nair, AGM, Nabard, were among the officials who participated in the meeting.