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Syndicate Bank releases Credit Plan Outlay

Written by: Staff

Udupi, Mar 24 (UNI) Syndicate Bank, the lead bank in the district, released the Rs 914 crore District Credit Plan for Bank Finance 2006-07 at the district level Review Committee Meeting here today.

Presenting the plan outlay, Bank General Manager D N Kamath said that of the total Credit Plan for 2006-07, Rs 174 crore (19 per cent) had been earmarked for the agriculture sector, Rs 256 crore (28 per cent) for Small Scale Industries sector, Rs 278 crore (30 per cent) for other priority sector and Rs 206 crore to non-priority sector.

He said the lead bank in the district took 45 per cent of the total plan outlay as per the guidelines stipulated by NABARD and RBI. The Corporation Bank and Canara Bank were in the second and third place with the share of 13 per cent and 12 per cent respectively.

Mr Kamath said the total deposits of all 240 banks functioning in Udupi district was Rs 4,024 crore at the end of December 2005, with total advances touching Rs 1,703 crore, showing a CD ratio of 42 per cent.

During the nine months period of the current year, the banks had disbursed loans to various sector to the tune of Rs 743 crore as against Rs 560 crore, registering a growth of 130 per cent.

The credit plan outlay was released by the Udupi Zilla Panchayat President S N Shankar Poojary at the meeting.


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