Bank deposits in Telangana up Rs 16,595 crore in Sep quarter

The deposits of banks grew by Rs 16,595 crore at Rs 3,73,913 crore in Telangana during the quarter ending September, a top official of State Bank of Hyderabad said today.
Total advances of the banks grew by Rs 28,828 crore at Rs 4,18,481 crore, State Bank of Hyderabad (SBH) Managing Director Santanu Mukherjee, who is also President of State Level Bankers Committee (SLBC), said in the Quarterly Review meeting of the Committee.
"CD ratio at 111.92 per cent at the end of September 2016 increased by 287 bps and continues to be one of the highest in the country. Banks have lent Rs 15,205 crore under Kharif during the first quarter achieving 87 per cent of the Kharif targets," SBH release quoted him as saying.

Banks have disbursed Rs 11,126 crore to Micro, Small and Medium enterprises segment during the financial year surpassing the annual targets, he said.
In FY 2016-17, banks have so far disbursed Rs 1,404 crore under Pradhan Manthri Mudra Yojana scheme, achieving about 31.38 per centof annual target, he said.
Observing that demonetisation of high currency notes has had abig impact on the banking sector, Mukherjee said there is a big opportunity for banks in the digital banking area.

The digital transactions are set to increase as the NPCI (National Payments Corporation of India) has just launched Unified Payment Interface (UPI) platform, he said.

In Telangana, banks have so far opened 81.71 lakh accounts under PMJDY. RuPay Cards were issued to 69.79 lakh accounts (85.40 per cent) and 46.01 lakh accounts are active, the release said.
Aadhar seeding has been done for 60.65 lakh accounts (74. 25 per cent).
Telangana Finance Minister E Rajender said the demonetisation had impacted common people in a big way and sought removal of Rs 2,000 notes and quick introduction of new Rs 500 notes.
He urged the bankers to ensure that genuine farmers benefit in the farm loan waiver scheme of the state and to give relief to small entrepreneurs in repayment of loans.