Date:31/03/2006 URL: http://www.thehindubusinessline.com/2006/03/31/stories/2006033102001900.htm

Back CD ratio crosses 66 pc in Kerala

Our Bureau

Thiruvananthapuram , March 30

The credit-deposit ratio of commercial banks in Kerala has reached 66.13 per cent as on December 31, 2005.

The CD ratio was at 59.01 per cent as on March 31, 2005.

This was disclosed at the State Level Bankers' Committee (SLBC), which met here on Wednesday.

Banks disbursed Rs 15,410 crore to the priority sector till December 31, 2005. This was 80 per cent of the target of Rs. 19,271 crore projected for the priority sector in fiscal 2005-06.

Out of Rs 15,410 crore disbursed, Rs 5,923 crore was to the agriculture sector, Rs 1,792 crore to the small-scale sector and Rs 7,695 crore to other priority sectors.

The total deposits of the banks in the State during the nine-month period touched Rs 72,877 crore. Out of this, NRE deposits accounted for Rs 29,641 crore.

advances

The total advances as on December 31, 2005, were to the tune of Rs 48,196 crore. Total advances and investments in approved securities/debentures reached Rs 51,080 crore.

The banks also issued Kisan Credit Cards to 2.43 lakh farmers in the State and granted loans amounting to Rs 940 crore.

The meeting decided to extend one-time settlement to all overdue loans with principal amount up to Rs 25,000. It also directed all banks to credit two per cent interest on all short-term farm loans up to Rs 1 lakh before March 31, 2006.

Besides, the meeting decided that payments of wages under the Rural Employment Guarantee Programme of the State Government would be made through the bank accounts free of charge. Further, the implementation of the relief package to tea and coffee growers in the State would be closely monitored.