Bank deposits up 17% in TN

Bank deposits in Tamil Nadu increased 16.54 per cent during the year ended December 2009, to Rs 2,55,735 crore, according to the State Level Bankers’ Committee (SLBC).

The committee, which met on March 26, stated that gross credit in the state registered an increase of 15.31 per cent to Rs 2,90,790 crore. The state has maintained a credit, deposit ratio of 113.71 per cent, which is highest in the country.

The share of outstanding priority credit advances as on December 31, 2009, was 42.41 per cent as against the national norm of 40 per cent.

Under the annual credit plan 2009-10, banks in Tamil Nadu disbursed Rs 31,977.22 crore up to December 2009, with an overall achievement of 101 per cent of the proportionate target.

In the first 10 months ended January 31, 2010, of the current year, banks in the state disbursed Rs 18,619 crore agricultural credit under the special farm credit policy.