FM's constituency bankers' favourite

Public sector banks will disburse over Rs 2,000 crore in Union Finance Minister P Chidambaram’s constituency. M Narendra, chairman and managing director of Indian Overseas Bank, which is also the convenor bank for State Level Bankers’ Committee in Tamil Nadu, said the total number of bank branches in Sivagana district, from where Chidambaram hails, is 184, including 87 rural and 97 semi-urban. In 2011-12, the banks had set a target to disburse Rs 1,125.05 crore, and they disbursed Rs 1,284 crore, an increase around 14 per cent. For 2012-13, the target set for the district was Rs 2,065.21 crore, which includes Rs 1,522.21 crore for the farm sector, Rs 143 crore for non-farm and Rs 400 crore for other priority sectors, said Narendra. Total deposits and advances stood at Rs 6,973.33 crore, and credit deposit ratio is around 93 per cent, which is one of the highest in the country, he added.