KARNATAKA

Banks achieve business of Rs. 13,539 crore

Staff Correspondent

It includes deposits of Rs. 8,232 crore and advances of Rs. 5,307 crore

The district has 46 financial institutionsCredit-deposit ratio of banks has increased to 64 per cent

MANGALORE: The 364 branches of banks in Dakshina Kannada achieved a business level of Rs. 13,539 crore as on December 31, last year. The district has 46 financial institutions, including the Karnataka State Financial Corporation and 45 banks, which meet the credit needs of people in the primary, second and tertiary sectors. The business amount includes deposits of Rs. 8,232 crore and advances of Rs. 5,307 crore. Stating this at the meeting of the district consultative committee and district-level review committee to discuss banking development of the district here on Tuesday, Lead District Manager A. Gopal said that deposits had increased to Rs. 8,232.06 crore as on December 31, 2006, compared to Rs. 7,215.51 crore during the corresponding period last year, which indicated a growth of 14 per cent. Banking centres in the cities accounted for a 71 per cent share of the deposits, at Rs. 5,803.17 crore.

The total advances of the banking sector as on December 31, 2006 stood at Rs. 5,307.24 crore, while it was Rs. 4,264.69 crore on December 31, 2005, which indicated a growth of 24 per cent, Mr. Gopal said. He said the absolute increase in advances was Rs. 1,042.55 crore. Branches in the cities accounted for a 69 per cent share, with advances totalling Rs. 3,682.19 crore, while centres in the villages accounted for advances totalling Rs. 949.53 crore (18 per cent), and semi-urban centres for Rs. 675.72 crore (13 per cent). He said the credit-deposit ratio of banks in the district had increased to 64 per cent as on December 31, 2006.

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