OTHERS

Rs. 6,744 crores given in loans to farm sector by public-sector banks

LENDING GIANTS: (From left) B.B. Mohanty, Chief General Manager, NABARD; A.K. Agarwal, Additional Chief Secretary, Government of Karnataka; and N. Kantha Kumar, Chairman and Managing Director, Syndicate Bank; at the 96th State-level Bankers' Committe e meeting in Bangalore on Thursday. — Photo: K. Gopinathan

LENDING GIANTS: (From left) B.B. Mohanty, Chief General Manager, NABARD; A.K. Agarwal, Additional Chief Secretary, Government of Karnataka; and N. Kantha Kumar, Chairman and Managing Director, Syndicate Bank; at the 96th State-level Bankers' Committe e meeting in Bangalore on Thursday. — Photo: K. Gopinathan  

Staff Reporter

BANGALORE: Public-sector banks in the State have disbursed Rs. 6,744 crores in loans to the farm sector during the first seven months of the current fiscal year as against the target of Rs. 9,912 crores for the year, Syndicate Bank Chairman and Managing Director N. Kantha Kumar said here on Thursday.

Addressing the 96th meeting of the State-level Bankers' Committee, Karnataka, Mr. Kantha Kumar said this accounts for 68 per cent achievement as against the 59 per cent stipulated. Banks have sanctioned a credit limit of Rs. 48.75 crores to 858 farmers for taking up horticulture projects under the National Horticulture Board Subsidy Scheme.

The State administration has exempted credit facilities obtained by self-help groups from stamp duty and registration fee, which will accelerate credit flow to them by reducing the cost of funds, he added.

The share of advances to weaker sections in the total credit has gone up to 9.69 per cent as of September 2005. The target is to touch 10 per cent by March 2006, he said.

The State has a network of 4,892 branches, including 25 satellite offices, functioning in rural areas. Banks have aggregate deposits of Rs. 96, 125 crores and advanced Rs. 74, 625 crores with a credit-deposit ratio of 77.63 per cent.

As many as 6,29,013 farmers have been given Kisan credit cards with a credit limit of Rs. 2,088.32 crores during the first half of the current fiscal year, Mr. Kantha Kumar said.

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