Kerala banks see increase in non-resident deposits

Non-resident deposits in Kerala's banks have made a strong come back in the fist quarter of the current fiscal.

The non-resident deposits reached Rs 31,865 crore as of June 2008 due to an addition of Rs 1,976 crore during the first quarter of the current fiscal. Terming this as a striking feature of the first quarter performances of the 2008 fiscal, the state-level bankers committee (SLBC) said the non-resident deposits have in fact made a turn around.

The total deposits of the banks in state grew 15.04 per cent crossing the Rs 1-lakh-crore mark while advances were up 17.16 per cent at Rs 75,000 crore during the financial year 2007-08. As of June 2008, deposits stood at Rs 1,08,658 crore, while advances were at Rs 76,230 crore.

 

Commercial banks disbursed Rs 6,401 crore to the priority sector during the quarter ended June 30, 2008. This was 17.68 per cent of the targeted amount of Rs 36,194 crore for the whole year.