PSU banks overdue rate at 60% in Odisha

Overall recovery position of all banks by March-end this year stands at dismal 45.45%

The overdue position of public sector banks in Odisha has climbed to 59.78% by the end of March this year, against 45.90% (as on March 31, 2010) on tepid recovery of funds from government sponsored schemes.

The overall recovery position of all banks by March-end this year stands at a dismal 45.45%, data released by the State Level Bankers' Committee (SLBC) said.

Poor recovery was mainly under two government sponsored schemes - Swarna Jayanti Swarozgar Yojana (SGSY) and Pradhan Mantri Rozgar Yojana (PMRY). Recovery under SGSY was 24.73% while that for PMRY was still lower at 18.83%.

The recovery position of regional rural banks (RRBs) and cooperative  banks stood at 41.16% and 32.22% respectively.

In case of public sector lenders, the total demand for recovery  for sectors like agriculture, MSMEs (micro, small and medium enterprises) and services was  Rs  6,799.97 crore against which amount recovered was only Rs 2734.84 crore, indicating a  recovery of 40.21%.

According to the SLBC data, recovery position of agriculture, MSME and SHG (self-help groups) was 57%, 56.10% and 51.34% respectively.

The public sector banks with high overdue rate include Andhra Bank (93.38%), Dena Bank (95.87%), IDBI Bank (88.88%) and Vijaya Bank (91.87%).

SLBC has  suggested that banks and government departments need to make joint endeavour with specific strategies to improve recovery performance for better recycling of funds. The committee has also urged the officials of concerned line departments  to be present in recovery camps for recovery of bank dues.