Banks achieve 34% of Annual Credit Plan by June-end

Banks operating in the Orissa circle have managed to achieve only 34 per cent of the Annual Credit Plan (ACP) by the end of June this year.

Of the total targeted lending of Rs 8831.70 crore set for 2011-12, the achievement by the banks has been Rs 3034.46 crore in the April-June quarter.

The percentage of credit flow has been especially lacklustre in sectors like agri-term loans and allied sector with achievements of only 19 per cent and 12 per cent respectively.

While the lending target for agri-term loans was Rs 795.83 crore, the actual achievement stands at only Rs 149.25 crore. Similarly, in the allied sector, the credit flow stood at Rs 80.84 crore by June-end as against the total lending target of Rs 682.28 crore.

 

The State Level Bankers' Committee (SLBC) has noted that barring Dena Bank and HDFC Bank that have achieved over 60 per cent of the ACP by the end of June, other banks have not fared well.

While Dena Bank's performance under ACP was impressive with an achievement of 78 per cent, HDFC Bank has achieved 63 per cent of ACP.

Among the priority sector advances, achievement in the crop loan was somewhat better at 43 per cent. Of the total lending target of Rs 3,045.29 crore, the actual achievement stands at only Rs 1,313.06 crore.

The public sector banks that have recorded dismal performance in terms of achievement of ACP are Allahabad Bank (14 per cent), Andhra Bank (17 per cent), Canara Bank (13 per cent), Central Bank of India (5 per cent), Industrial Development Bank of India- IDBI Bank (13 per cent), Indian Bank (14 per cent), Indian Overseas Bank (19 per cent), Oriental Bank of Commerce (18 per cent), Punjab National Bank (13 per cent), Syndicate Bank (20 per cent), Union Bank (9 per cent) and United Bank of India (18 per cent).

The achievement of some of their private sector counterparts is poor. The list includes Federal Bank (1 per cent), ICICI Bank (8 per cent), Axis Bank (17 per cent), Indus Ind Bank (2 per cent) and Karur Vysya bank (0 per cent). The overall achievement by private sector banks has been a meagre 22 per cent in the April-June quarter.

The achievement of Regional Rural Banks (RRBs) has been even lesser at 17 per cent while cooperative banks have achieved 50 per cent of the ACP in the said period.

Among the districts in Orissa, Jagatsinghpur district has fared the best, achieving 70 per cent of the ACP whereas Malkangiri is at the bottom with six per cent.