By ten per cent in Madurai district
MADURAI: The Credit-deposit (CD) ratio of the banks in the district has come down by ten per cent, thus affecting the performance of the banking sector.
The CD ratio of the banks has come down from 101 per cent as on September 2008 to 91 per cent in September 2009, according to a report presented at the District Level Review Committee meeting of the banks convened on Wednesday by the Lead Bank, Canara Bank.
The report also pointed out some public sector banks had CD ratio of less than the stipulated levels of 60 per cent. While lending to sectors such as agriculture, Differential Rate of Interest scheme and to women beneficiaries were above the mandated figures, advances to minority sectors were only 3.37 per cent against the stipulated 10 per cent.
Addressing the meeting, District Revenue Officer Dinesh Ponraj Oliver requested the banks to take steps to arrest the decline. He also urged them to increase the DRI loans.
Speaking earlier, Virudhunagar MP, B. Manicka Tagore, thanked the bankers for having effectively implemented financial inclusion and education loan schemes in Tirupparankundram and Thirumangalam, both of which fell under his Parliamentary Constituency.
Mr. Tagore, who is also a member of Parliamentary Standing Committee on Finance, said that banks in Tamil Nadu have been performing well.
KN. Subramanian, Lead District Manager, said that half-yearly targets set under annual credit plan had been achieved.
K.P. Pai, Assistant General Manager, Canara Bank, and R. Shankar Narayan, Assistant General Manager, National Bank for Agriculture and Rural Development , spoke.
Mr. Shankar Narayan said that agri-clinics and agri-business centres scheme of the Centre to encourage agri-graduates by providing capital subsidy and interest subsidy.
He requested the banks to support agri-graduates taking to this scheme as it would help take technology to the door steps of farmers.