Banks in Odisha achieve 79% of annual credit plan in FY13

The banks operating in Odisha have disbursed Rs 21,910.93 crore loan to different sectors in 2012-13, which is 21 per cent less than the projected credit plan target of Rs 27,789.28 crore for the year.

However, year-on-year basis, the actual credit flow for the last fiscal was 13.18 per cent higher than Rs 19,989 crore credit disbursement achieved in 2011-12, data from the State Level Bankers' Committee (SLBC) report revealed.

Break up figures showed that performance under annual credit plan was less than satisfactory in Angul, Nayagarh, Bhadrak, Dhenkanal, Jharsuguda, Kalahandi, Keonjhar, Koraput, Malkanagiri, Nawrangpur, Puri and Sonepur districts where disbursements fell short of the target by more than 40 percent.

Bank wise, most public sector banks, except for Central Bank of India, State Bank of Travancore and United Bank of India, achieved more than 60 per cent of annual credit plan target.

Among the private sector banks, whose loan disbursement remained below 60 per cent of the target, were Kotak Mahindra and INGVysys Bank.

Out of total Rs 21,910 crore credit flow during the year, crop loan was highest at Rs 8,457 crore, registering 23 per cent growth over 2011-12. Agricultural term loan was Rs 1,533.06 crore last year, up by 36 per cent compared with the year ago figure.

During the last fiscal, the ratio of priority sector lending to the total advances was 59.55 per cent, much higher than national parameter of 40 per cent, said the SLBC report.

The credit to deposit ratio (CD) of the banks was 86.9 per cent during the period, above national average of 60 per cent. year-on-year basis, the deposits and advances increased by 12.85 per cent and 38.17 per cent respectively.

Finance minister Prasanna Acharya advised the banks to give more stress on MSME sector loans. SLBC asked all the banks to stay prepared for roll out of the Direct Benefit Transfer scheme, which will be implemented in Cuttack, Puri, Bolangir and Sonepur this year.