Syndicate Bank sponsored RRBs record good performance

Manipal, June 26 (UNI) The All Regional Rural Banks (RRBs), sponsored by the Syndicate Bank, have projected a business target of Rs 15,926 crore, comprising deposits of Rs 8,610 crore and advances of Rs 7,316 crore, for 2006-07.

In a release here today, Syndicate Bank Chairman and Managing Director C P Swarnkar said that in keeping with the policy of consolidating the RRBs and to take advantage of economic scale, the bank had taken effective steps for amalgamation of four RRBs sponsored by the bank in Karnataka during September 2005 and three in Andhra Pradesh during June 2006.

He said that the five RRBs sponsored by the bank cover 29 districts in five states with a network of 1,177 branches. During 2005-06, the total business of these RRBs stood at Rs 13,084 crore, comprising deposits of Rs 7168 crore and advances of Rs 5,926 crore with a credit deposit ratio of 82.67 per cent, he pointed out.

Mr Swarnkar said the RRBs had been earning profits consistently and the profit earned for the year was Rs 201 crore and its non-performing assets stood at Rs 222.35 crore, forming 3.75 per cent to gross advances. These RRBs had been able to issue 760702 Kisan Credit cards with an outstanding amount of Rs 2250 crore as on March 31, 2006.

The RRBs credit linked 86,000 self help groups (SHGs) with an assistance of Rs 215 crore during the year, he added.

Mr Swarnkar said that among the seven RRBs, Karnataka Vikas Grameena Bank, Dharwad, stood first with a total business of Rs 3,667 crore, followed by the Rayalaseema Grameena Bank, Kadapa, Andhra Pradesh, Rs 2,078 crore, Prathama Bank, Moradabad, UP, Rs 1,968 crore, North Malabar Grameena Bank, Kannur, Kerala, Rs 1,809 crore, Gurgaon Grameena Bank, Haryana, Rs 1,763 crore, Pinakini Grameena Bank, Nellore, AP, Rs 929 crore and Sree Anantha Grameena Bank, Ananthapur, AP, Rs 879 crore.

He said the bank sponsored RRBs had performed exceedingly well compared to the performance level of all other RRBs in the country.

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