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Banks in Dakshina Kannada register 20.5 pc rise in biz

Our Bureau

Mangalore , June 29

NEARLY 350 branches of the 45 banks in Dakshina Kannada district recorded business level of Rs 10,422.14 crore during 2004-05 as against Rs 8,646.79 crore during the previous fiscal, registering a growth of 20.53 per cent.

Addressing a meeting of the District Consultative Committee for Banking Development in Dakshina Kannada here on Wednesday, the Lead District Manager, Mr A. Gopal, said that this level of business is highest by banks in a district in the country outside the metros. The meeting was convened by Syndicate Bank, the district's lead bank.

During 2004-05, the banks in the district mobilised deposits to the tune of Rs 6,815.13 crore (Rs 5,843.94 crore) and lent to the tune of Rs 3,607.01 crore (Rs 2,802.85 crore). They also mobilised Rs 1,014 crore NRI deposits, constituting 27 per cent of total deposits.

The Regional Manager of Syndicate Bank, Mr B.K. Bhat, said that increasing advances to agriculture sector in the district should be priority. In the last fiscal, the level of agriculture advances to the total advances stood at 16 per cent against the stipulated level of 18 per cent. In many banks, the level of agriculture advances was below the level stipulated for this sector.

However, the level of priority sector advances to total advances stood at 52 per cent as against the RBI target of 40 per cent.

Mr Gopal told the meeting that the banks distributed 7,396 kisan credit cards, involving Rs 43.33 crore, during 2004-05.

The credit-deposit ratio went up to 53 per cent during 2004-05 as against 48 per cent in the previous fiscal.

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Banks in Dakshina Kannada register 20.5 pc rise in biz

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