Udupi District bank deposits rise 20%

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Udupi, Karnataka, Sep 26 (UNI) Banks in Udupi district witnessed a 20 per cent increase in the total deposits at Rs 5,145 crore at the end of the second quarter of the current fiscal as against Rs 4,291.46 crore during the corresponding period last year.

Briefing on the banks' performance during the second quarter at the 38th meeting of the District Consultative Committee and District Level Review Committee (DLRC) meeting here, Syndicate Bank Deputy General Manager K Devananda Upadhyaya, whose institution was the lead bank of Udipi, here today said deposits during the period were up by Rs 854.97 crore (4.20 per cent) over the last quarter.

The total outstanding NRI deposits fell by Rs 39.66 crore and stood at Rs 1,330.56 crore during the second quarter of current financial year compared to the previous quarters, he said.

The total advances registered a 21 per cent rise during second quarter to at Rs 2387.67 crore over the corresponding period last year which stood at Rs. 1965.76 crore.

The level of advances had increased by Rs 57.84 crore over the position at March. The Credit Deposit Ratio (CDR) was 46 per cent during the quarter, In total business volume, Syndicate Bank occupied the first position with Rs 2,284.50 crore (30.32 per cent) followed by Corporation Bank at Rs 1,166.55 (15.48 per cent) and Canara Bank at Rs 1,101.35 crore (14.61 per cent).

UNI

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