The total bank deposits in Kerala increased 52.53 per cent during 2014, when compared with the last year. During January-December 2014, total deposits increased by Rs 140,322 crore to touch Rs 407,455 crore. Domestic deposits grew 71.31 per cent to Rs 302,882 crore during the calendar year 2014, as against Rs 176,802 crore as on 31st December, 2013, according to the State Level Bankers' Committee (SLBC). Domestic deposits constitute 74.34 per cent of the total deposits of the state. The planned efforts of various banks under the financial inclusion programme had helped achieve this, the SLBC said. Non-resident Indian (NRI) deposits grew 15.77 per cent to cross Rs 100,000 crore for the first time in the state. NRI deposits rose to Rs 104,573 crore as on December 31, 2014. Credit-Deposit ratio drops The credit-deposit (CD) ratio dropped during the period to 66.61 per cent, from 75.89 last year. Banking sources attributed the fall to a dearth in viable projects for bank funding in the state. Except Kochi metro rail, no major project has attracted big bank credits, a banking source said. During the last couple of years, investments in business and manufacturing segments had dropped in the state and banks had confined lending mainly to housing, vehicle, gold loans, educational loans and loans to small and medium traders. Slow growth in advances Bank advances increased 9.9 per cent, indicating the dearth of good projects in the state.
Total advances during 2014 stood at Rs 201,757 crore. Total business of all the banks in Kerala, including leading co-operative and gramin banks, rose 35.17 per cent to Rs 609,212 crore last year, when compared with Rs 450,716 crore in 2013. Agricultural advances stood at Rs 54,148 crore, with a 26.84 per cent share in total loans. Advances to SMEs, under priority sector schemes, increased 17.45 per cent to Rs 33,104 crore. There are 27 nationalised banks, including the banks of State Bank Group, 17 private sector banks and co-operative banks operating in the state, with a total branch strength of 5,876. Last year, 349 new branches were set up. There are 7,882 ATMs in the state.