Banks in Haryana register 14% growth in deposits

Total advances during January-Dec 2013 increased by Rs 23,200 cr

The total deposits of the Banks in Haryana touched Rs. 1,87,717 crore as on december 2013, showing an increase of 14% during the review period January-December 2012.

While, the total Advances during the period from January 2013 to Dec. 2013 have increased by Rs. 23,200 crore i.e. from Rs. 1,32,094 crore to Rs. 1,55,294 crore registering a growth of 17%.

This was informed by Rakesh Sethi, Executive Director, Punjab National Bank, during the 127TH meeting of State Level Bankers’ Committee, Haryana convened by Punjab National Bank, the Lead Bank for Haryana.

He added that the Total Deposits in Haryana have increased by Rs. 22,672 crore from Rs. 1,65,045 crore to Rs. 1,87,717 crore, showing an increase of 14% during the review period. While, the total advances during the period from January 2013 to Dec. 2013 have increased by Rs. 23200 crore i.e. from Rs. 132094 crore to Rs. 155294 crore registering a growth of 17%.

Priority Sector Advances have increased from Rs. 60300 crore as at Dec. 2012 to Rs. 73307 crore as at Dec. 2013 registering a growth of 21%. Advances to Micro & Small Enterprises have increased from Rs. 21248 crore as at Dec. 2012 to Rs. 27737
crore as at Dec. 2013, showing a growth of 31%.

Weaker Sector Advances have also increased by Rs. 2052 crore on YOY basis from Rs. 14494 crore as at Dec. 2012 to Rs. 16546 crore as at Dec. 2013 showing growth of 14%.

Overall CD Ratio as at Dec. 2013 for State as a whole stands at 83%. Sethi expressed his satisfaction over the achievement and said that no district in Haryana has CD Ratio below 40% as at Dec. 2013.

Emphasizing the role of micro financing Rakesh Sethi affirmed that there is a need to have close rapport between Haryana State Rural Livelihood Mission (HSRLM), banks to help formation and linkage of SHGs and reactivate defunct SHGs besides credit linking eligible SHGs.

Shri Sethi informed that 45 Financial Literacy Centres operating in the State are providing financial knowledge and information relating to different schemes & products of banks.