Banks disburse Rs 21,663 cr in Karnataka during 1st quarter

Banks in Karnataka disbursed Rs 21,663 crore during the first quarter of the fiscal against the annual target of Rs 89,821 crore, Syndicate Bank Executive Director M Anjaneya Prasad said today.
Prasad said the disbursement under agriculture sector was Rs 14,277 crore vis-a-vis the annual target of Rs 57,247 crore, registering 24.94 per cent achievement.
"Banks have disbursed Rs 10,847 crore under Crop Loans against the target of Rs 39,252 crore (annual target), thereby recording 27.63 per cent achievement," he said during the state level bankers' committee meeting here.
The disbursement towards secondary sector was Rs 3,244 crore and towards tertiary sector was Rs 4,142 crore.

He also appealed to all bankers and line departments to pay utmost priority for implementation of state and centrally-sponsored schemes, which are being implemented for the benefit of poor and downtrodden.
"NABARD has been implementing various schemes and projects towards rural development and women empowerment. These schemes have to be given priority," he said.

Special thrust should be given for credit linkage of Self Help Groups and Joint Liability Groups in a big way meeting the credit absorption capacity of groups and members, Prasad stated.
Prasad solicited cooperation of state administration in loan recoveries which play a vital role in funds' recycling.

He also urged the government to create necessary infrastructure and conducive industrial policy for the state to encourage investment credit and MSME sector.