Banks in the district have disbursed ₹14,699 crore as priority sector loans for the nine-month period ending December 2021. Out of this, ₹8,023 crore was for agriculture, ₹4,789 crore for MSME sector, and ₹1,887 crore for other priority sectors.
The fourth quarter meeting of the district-level banking review committee for the 2021-2022 financial year was held on Thursday. The meeting was convened by the Indian Overseas Bank, the lead bank for the district.
The credit deposit ratio of the district improved from 64% to 67%. Total Deposits Balance for the district is ₹10,3831 crore and total advances outstanding ₹70,183 crore, as on December 31, 2021. Out of this, outstanding advances under priority sectors was ₹33,425 crore that constitutes 48% of the total advances.
Inaugurating the online meeting, V.K. Prasanth, MLA, urged banks to dispose of loan applications received by them within a reasonable time period. Small and medium entrepreneurs are just emerging from the adverse consequences of the COVID-19 pandemic. They should be given more time for repayment of loans and recovery measures should be postponed, he said. ADM Vineeth T.K. presided.
Priyanka Gupta, deputy general manager, Pension Fund Regulatory and Development Authority, reviewed the performance of banks in the Atal Pension Yojana Scheme.
V.H. Suresh, chief regional manager, Indian Overseas Bank; Murleekrishna, assistant general manager, Reserve Bank of India; Minu Anwar, assistant general manager, NABARD, and Sreenivasa Pai G., lead district manager, also spoke.
