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Banks in TN take total deposit of Rs 4.11 lakh cr till Dec 12

Source : BUSINESS_STANDARD
Last Updated: Wed, Mar 27, 2013 21:31 hrs
A shopkeeper counts Indian currency notes inside his shop in Jammu

The total deposits of the banks in Tamil Nadu has touched Rs 4,11,478.29 crore with a year-on-year increase of 14.27 per cent by December, 2012. The credit portfolio has experienced an increase of 21.67 per cent during the same period and reached Rs 5,01,143.48 crore, according to the State Level Bankers' Committee (SLBC).

The state has surpassed the national norm of 40 per cent in share of priority sector advances, at 43.17 per cent and the percentage of agricultural advances to total advances as at the end of December, 2012, was 19.76 per cent as against the national norm of 18 per cent, added a statement issued by the Indian Overseas Bank (IOB), which the convenor of the SLBC for Tamil Nadu, after the 133rd SLBC Meeting, held on Wednesday.



"The state has maintained a CD Ratio of 121.79 per cent, which is one of the highest in the country," added the statement.

The banks in Tamil Nadu have disbursed total credit of Rs 62,703.05 crore from April 2012 to December 2012 with an overall achievement of 102 per cent of the proportionate target, under the Annual Credit Plan 2012-13. Disbursement under farm sector was Rs 41,513.50 crore, non-farm sector was Rs 9,575.78 crore and other priority sectors was Rs 11,613.78 crore.

Banks have covered all the 4,445 villages with a population of 2,000 and above under financial inclusion, in Tamil Nadu, it added. It has opened 3,359 ultra small branches in financial inclusion villages in the State as on January 31, 2013.

Under the guidelines, it has identified 1660 villages with population over 1,600 to 2,000 and allotted to various banks. Banks have covered 1,544 villages under financial inclusion as on March 23, 2013. Around 5,622 villages with population 0-1,600 were identified and allotted to various banks in the State to cover all the villages in the state under Financial Inclusion before March 2013 and the banks have covered 3,717 villages under this as on March 23, 2013, it added.

The SLBC also claimed that Tamil Nadu is the only state wherein all villages with population 0-1,600 have been allotted to various bank branches and Business Correspondents are being appointed.

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