SBT farm lending up 46%

Strengthening its support to farm and related segments, the Thiruvananthapuram-based State Bank of Travancore (SBT) has recorded an all-time high growth in agricultural lendings during 2005-06. The bank's lendings increased by Rs 741.59 crore to a whopping Rs 2347.04 crore, during the fiscal.

According to figures made available by the bank, the growth is 46.19 percent rise when compared with the figures recorded during the fiscal ended March 2005.

The SBT has also put up a mega show with regard to other agriculture"�related support in a bid to boost the farm sector in the country. According to official sources, the bank issued 21,507 Kisan Credit Cards at an outlay of Rs 199.77 crore as against its target of 20,000 cards.

The bank also launched its highly innovative 'Annapoorna' scheme during the fiscal for financing paddy cultivation by tenant farmers. As an initial measure, the scheme has been successfully implemented in the Kuttanad area of Alappuzha district in the state.

This apart, the SBT extended support to 101 Joint Liability Groups (JLGs) under the Annapoorna scheme with a total amount of Rs 2.75 crore for cultivation in 2,500 acres of land. The scheme envisages financing 600 such groups with an outlay of Rs.16.50 acres covering an area of 15,000 acres in a period of three years. The scheme is also intended to bring under cultivation fallow lands, thereby increasing the area under paddy cultivation in Kerala.

In a bid to strengthen its support to the small industries and small business segment, the bank extended advances to the tune of Rs 2,260.61 crore, a growth of Rs 503.58 crore, during the year. This is a rise of 28.66 per cent over the previous year's figures.

Meanwhile, the bank's lending to the priority sector stood at 45.15 per cent of the net bank credit as against the stipulated 40 per cent, a bank statement added. Priority sector lendings by the bank shot up by Rs 2,060 crore to touch Rs 7,755 crore, a growth of over 36.17 per cent.