AP stands first in CD ratio, SHGS in country
Hyderabad, Mar 16 (UNI) Public sector banks in Andhra Pradesh stood first in the country in credit deposit ratio and the number of self help groups(SHG) in the country, State Chief Secretary T K Dewan said today.
Inaugurating the state-level review meeting of Bankers' Committee, he expressed happiness over the banks in the state maintaining a credit deposit ratio of 74.04 per cent against the RBI norm of 60 per cent.
Pointing out that the state ranked first in the number of SHGS at 4.55 lakh, he urged the bankers to step up advances to them and to the Horticulture sector.
Earlier, Andhra Bank Chairman and Managing Director K Ramakrishnan, as head of the ''lead bank'' in the State, informed that in keeping with Union Finance Minister P Chidambaram's directive that each branch must give loans to 100 new farmers in a year, 4,89,565 new farmers were provided loans by public sector banks in the state this year against the target of 4.19 lakh.
The priority sector advances in the state by December stood at Rs 52,158 crore, constituting 66.15 per cent of total advances as against the RBI norm of 40 per cent.
For the first time, 36,506 tenant farmers were financed through the ''Rythu Mithra Groups (farmers clubs), Mr Ramakrishnan pointed out, adding that 2.80 lakh (SHGs) were extended finance of Rs 1622 crore against the target of covering three lakh groups. Agricultural advances were 31.17 per cent of net bank credit against the RBI norm of 18 per cent, the CMD said, adding that the disbursements under agriculture was Rs 14,492 crore up to February, against a target of Rs 16,750 crore for the year.
A total of 71.49 lakh Kisan cards were issued in the state, he added.
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