Udupi district banks witness 20 per cent rise in its deposits

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Udupi, Sept 26 (UNI) The banks in Udupi district witnessed a 20 per cent increase in its total deposits at Rs 5145 crore at the end of the second quarter of the current fiscal as against Rs 4291.46 crore during the corresponding period last year.

Briefing the banks performance during the second quarter at the 38th meeting of the District Consultative Committee and District Level Review Committee (DLRC)meeting here Mr. K Devananda Upadhyaya, the Deputy General Manager of Syndicate Bank, the leading bank of Udupi here today said that the deposits during the period was 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 1330.56 crore during the second quarter of current financial year compared to the previous quarters, he said.

He said that the bank 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 at 46 per cent during the quarter, he said.

In the total business volume, the Lead District Syndicate Bank occupied the first position with Rs. 2284.50 crore (30.32 per cent), followed by Corporation Bank at Rs. 1166.55 (15.48 per cent) and Canara Bank at Rs. 1101.35 crore ( 14.61 per cent). There were 25 banks in the district operating with a total branch network of 250, he added.

UNI

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