THIRUVANANTHAPURAM: The District-level Review Meeting on Banking, even while commending the banks for their target-beating disbursals in the priority sector, urged banks in the district to make financial inclusion more fruitful by extending financial literacy in the state. The meeting also wanted the banks to adopt ‘’meaningful financial inclusion’ strategies by giving TOD (temporary overdraft) in no-frills account. The meeting, convened by Indian Overseas Bank, was held here on Wednesday.
At the meeting it was revealed that banks in the district had disbursed Rs 6,243 crore under the priority sector. The total disbursement in 2010-11 is Rs 11,471 crore. The credit-deposit ratio is a healthy 75 percent, up from last fiscal’s 64 percent. Financial institutions in the district disbursed Rs 6,243 crore under three major areas of the priority sector against a target of Rs ,4713 crore in 2010-11, an achievement of 132 percent.
Disbursal to the agriculture sector was Rs 3,306 crore as against a target of Rs 1,890 crore, a 175 percent achievement; Rs 2,671 crore to the services sector, which is seven percent over the target of Rs 2,491 crore. The achievement fell below target in the non-farm sector, which includes industrial credit. The disbursement was Rs 265 crore, 20 percent below target.
Major banks such as SBT, IOB, Canara Bank, SIB, PNB, CSB, ICICI Bank, HDFC and Uco Bank have achieved more than the set target.Interestingly, banks having less number of branches such as State Bank of Mysore, Allahabad Bank and Karnataka Bank have also performed well.