PSU banks' CD ratio touches 117% in TN

Public sector banks have maintained a CD ratio of 116.63 per cent in Tamil Nadu, which is one of the highest in the country.

The State Level Bankers' Committee (SLBC), which was convened by Indian Overseas Bank at Chennai on Wednesday, stated that total deposits of the banks in Tamil Nadu registered a year-on-year increase of 9.71 per cent by September 2011 and touched Rs 3,32,820.79 crore.

Gross credit registered an increase of 17.66 per cent during the same period and reached Rs 3,88,170.42 crore.

Banks have achieved the annual target for outstanding priority sector advances and the share of the advances has increased to 42.29 per cent as against the national norm of 40 per cent.

Under the Annual Credit Plan 2011-12, they disbursed Rs 27,085.26 crore during the first half of the year ended September 2011 with an overall achievement of 99 per cent of the proportionate target. Disbursement under farm, non-farm sector and other priority sectors in quantum stood at Rs 15,837.31 crore, Rs 5,357.56 crore and 5,890.39 crore respectively. In terms of percentage, it was 107 per cent, 87 per cent and 91 per cent.

Under extension of banking services to villages having population over 2,000, bankers said 3,730 villages had been covered up to October this year and the remaining would be covered before December 2011.