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Thursday, Oct 06, 2005

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Priority sanctions at Rs 610 cr in Thiruvananthapuram dist

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THIRUVANANTHAPURAM: Priority credit sanctions by banks in Thiruvananthapuram district during the first quarter have crossed Rs 610.24 crore. This represented 34 per cent of the annual target of Rs 1775.17 crore.

This was revealed at the District-Level Review Committee (DLRC) of banks by Indian Overseas Bank, the lead bank. The meeting accepted a suggestion by the District Collector, who presided, to take a considerate approach in regard to initiating revenue recovery against defaulters belonging to weaker sections.

Banks were also told to furnish fortnightly data on educational loans for review by the DLRC. According to Mr Abraham Shaji John, Lead District Manager, credit-deposit ratio for the district stood at 77 per cent against a State average of 59 per cent.

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