PSU banks lent over Rs 35,000 cr to agri sector in Q1

The public sector banks disbursed a total of Rs 35,184.22 crore to the agriculture sector during the first quarter of this fiscal, Parliament was informed today.

Of the total amount disbursed during the first three months of the fiscal, the commercial banks accounted for Rs 14,190.21, while co-operative banks gave out Rs 13,748.22 and the rest Rs 7,245.79 crore came from regional rural banks (RRBs), Minister of State for Finance S S Palanimanickam said in a written reply to the Rajya Sabha.

"For the year 2010-11, the target (for flow of credit to the agriculture sector) has been fixed at Rs 3,75,000 crore," the Minister said.

Of the targeted allocation this fiscal, the commercial banks in the public sector have to lend minimum of Rs 2,80,000 crore, the cooperative banks Rs 55,000 crore and the RRBs Rs 40,000 crore to the farming sector.