Banks in Telangana meet 52% of lending target under priority sector

Lenders disburse Rs 11,636 crore as of September 30, 2015 against annual target of Rs 57,320.23 crore

Banks in Telangana have disbursed Rs 11,636 crore under the priority sector during the quarter that ended on September 30, 2015. With this, they have achieved 52% of the annual target of Rs 57,320.23 crore. Advances during the quarter stood at Rs 2,202 crore, taking the total to around Rs 35,0884 crore.

At a State Level Bankers' Committee meeting, Santanu Mukherjee, managing director of State Bank of Hyderabad, and president — SLBC, said that priority sector advances constituted 33% of the total advances, while agricultural constituted 14.85%.

The credit deposit (CD) ratio of the state was one of the highest in the country at 103.89%.

Short-term production loans stood at Rs 12,939 crore under kharif 2015-16, meeting 72% of the target. Mukherjee said there was sluggish demand for loans under rabi due to the drought conditions.

The state has 258 villages with a population of above 5,000 without a bank branch. Allotment of these villages to the banks for opening of branches under the new Financial Inclusion Plan would be made soon, he stated in a release.