KERALA

Lending by banks to priority sectors robust

Staff Reporter

Lending to agriculture stands at 53 per cent



Total priority sector lending has touched Rs.1,778 crore against the target of Rs.4,228 crore

Non-priority sector lending has touched Rs.1,294 crore against the target of Rs.1,997 crore



KOCHI: Bank lending to priority sectors in Ernakulam district appears robust with more than half the lending target being achieved in key area like agriculture till the end of the third quarter of the current financial year.

Bankers’ meet

A meeting of the bankers to review the performance of the banks on the District Credit Plan produced figures that showed priority sector lending averaging 42 per cent while lending to agriculture achieved 53 per cent of the target.

The target for agriculture is Rs.1,085 crore and the achievement so far is Rs.579 crore.

The lending target of MSME sector is Rs.453 crore while the achievement is Rs.139 crore.

Other priority sector lending target is Rs.2,689 crore and the achievement in the first three quarters is Rs.1,060 crore.

Priority sector lending

Total priority sector lending has touched Rs.1,778 crore against the target of Rs.4,228 crore.

Non-priority sector lending has touched Rs.1,294 crore against the target of Rs.1,997 crore.

Both the priority and non-priority sector lendings have touched Rs. 3,073 crore against the total target of Rs. 6,225 crore.

Indira Devi, Deputy Collector (RR) presided at the meeting. Ashok Kumar Mattu, DGM, Reserve Bank of India was the chief guest at the meeting. V.I. Mathew, DGM, Union Bank of India, Antony John, AGM, Reserve Bank of India, A.V.V. Subramanian, AGM, NABARD, K.A. Ouseph, Lead District Manager and representatives of banks and government officials participated in the meeting.

Mr. Subramanian also presented the Potential-Linked Credit Plan for Ernakulam for 2009-10 during the meeting and it was approved during the meeting.

Projection

The projected total priority sector lending for the district is Rs.5,210 crore.

K.D. Joseph, AGM, RBI, expressed satisfaction on the optimum level of CD ratio and appealed to the bankers to go through the latest guidelines on PMEGP scheme and to implement the scheme in its true spirit.

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