Banks records highest CD ratio in the country at 108.75% in TN

Tamil Nadu has registered a credit deposit (CD) ratio of 108.75 per cent, which is one of the highest in the country. Total deposits of the banks in Tamil Nadu rose by 20.60 per cent by September 2010 to over Rs 3.03 lakh crore and gross credit rose by 16.33 per cent to over Rs 3.29 lakh crore.

In a State Level Bankers’ Committee for the State of Tamil Nadu, which was convened by Indian Overseas Bank, total deposits of the Banks in Tamil Nadu registered by 20.60 per cent by September 2010 and touched Rs 3,03,359 crore.

Gross credit in the state registered an increase of 16.33 per cent during the same period and reached Rs 329,912 crore, at the end of September 2010. The share of outstanding priority credit advances to total credit as at the end of September 2010 was 41.56 per cent as against the national norm of 40 per cent and disbursed Rs 23,814.60 crore upto September 2010.

Under the Annual Credit Plan 2010-11, banks in the state have achieved 99 per cent of the proportionate target for the half year.

Under the Financial Inclusion Programme, extension of banking services to villa-ges having population over 2,000, 425 villages have been covered upto September 2010. Setting up of Financial Literacy and Credit Counseling Centres (FLCCCs) and Rural Self Employment Training Institute (RSETIs) were also discussed by the forum, at the meeting which held at Chennai.