According to the Annual Credit Plan 2006-07, the banks in Punjab have achieved overall as well as under agriculture targets. | |
| From July 1, 2005, to June 2006, banks in the state have disbursed loans of Rs 7,098 crore against the target of Rs 7,047 crore, thus registering 101 per cent achievement. |
| |
| Under the agriculture and allied sectors, the achievement is 103 per cent. |
| |
| While reviewing the performance of banks here in the 97th meeting of State Level Bankers' Committee, Punjab, K Raghuraman, executive director of Punjab National Bank, said during the period under review, the banks registered double-digit growth in all key banking parameters. |
| |
| Banks registered better growth in agriculture advances, SSI advances and under advances to weaker sector. |
| |
| Raghuraman added agriculture advances increased from Rs 8,561 crore to Rs 10,776 crore, showing a growth rate of 25.9 per cent as against an increase of 25.5 per cent during the corresponding period last year. |
| |
| He said the priority sector advances increased from Rs 20,237 crore to Rs 24,369 crore, thus showing a growth rate of 20.4 per cent. |
| |
| At the end of June 2006, the priority sector advances were 57 per cent of net banks' credit against the national goal of 40 per cent. |
| |
| He said the aggregate deposits of the bank registered growth of 11.6 per cent. In absolute terms, deposits increased by Rs 7,849 crore from Rs 67,637 crore to Rs 75,486 crore during this period. The gross credit in the state witnessed growth of 27.6 per cent and in absolute terms, credit increased by Rs 9,924 crore from Rs 36,012 crore to Rs 45,936 crore during this period. |
| |
| He added 24 new branches of commercial banks were opened in the State during the review period, thus raising the network to 2778 as in June 2006. |
| |
|
| |
