Banks in Thiruvananthapuram district disbursed ₹21,660 crore as priority sector loans in 2022-23.
Banks had set a priority sector lending target of ₹21,298 crore for the 2022-23 fiscal. Banks in the district disbursed ₹13,536 crore in the agriculture sector and ₹5,828 crore in the MSME sector, it was reported at a review meeting of the District-level Banking Committee organised by the lead bank Indian Overseas Bank (IOB) here on Monday.
The credit-deposit ratio in the district stood at 73%. Banks in the district had deposits to the tune of ₹1,13,245 crore and advances worth ₹83,184 crore in March 2023. Kadakampally Surendran, MLA, addressing the meeting, called for a robust banking policy supportive of the multi-sector development in Thiruvananthapuram district.
Banks should fix their loan targets in line with the development needs of the district, he said.
Marykutty, Deputy Collector, presided over the function. G.V. Dayal Prasad, Chief Regional Manager, IOB, extended the welcome address. S. Jayamohan, Lead District Manager, heads of various development departments, bank regional heads, and financial literacy counsellors spoke in the meeting.
IOB chief regional manager G.V. Dayal, Reserve Bank of India district development manager Mini Balakrishnan, Lead District Manager S. Jayamohan, senior officials of the district administration, and banks attended the meeting.
