The Hindu Business Line : Kerala: MLAs urge bankers to improve credit delivery

Lawmakers taking part in the meeting of the district-level banking committee have urged banks to improve credit delivery in Thiruvananthapuram district.

Mr Anathalavattom Anandan, MLA, urged bank officers to involve themselves more in implementing various programmes. While pumping in credit, they should also look at creating facilities for marketing of agricultural produce.

According to Mr George Mercier, MLA, assistance to self-help groups needed to be scaled up further. Echoing a similar demand, Ms Arundhathy, MLA, told bankers to ensure that only permitted rates of interest were charged while financing the needs of the poor.

Hosted by Indian Overseas Bank (IOB), the lead bank for the district, the meeting was told that priority credit disbursement at the end of the first half of the fiscal had crossed Rs 991.72 crore against an annual target of Rs 2,187 crore. Agricultural sector saw the highest quantum of disbursement at Rs 477 crore (60 per cent of target).

Outstanding credit to agriculture, small-scale industries, SC/ST beneficiaries and in education loans were Rs 1,297 crore, Rs 486 crore, Rs 147 crore and Rs 205 crore, respectively as on September 30, 2006.

The credit-deposit ratio for the district stood at 77 per cent, way ahead of the State's CD ratio of around 66 per cent. The total deposits with all scheduled commercial banks in the district amounted to Rs 12,502 crore and advances, Rs 9,578 crore.

The District Collector, Mr N. Ayyappan, presided over the meeting.

More Stories on : Credit Market | Rural Development | Kerala

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