Banks achieve 72% Kharif loan target

₹10,791 crore disbursed as agri term loans

Banks in Telangana lent ₹22,936 crore in the first six months (April-September) this fiscal for Vanakalam (Kharif) crop season thus achieving 71.82% of the target.

Overall, 43% of the short term production (crop) loan target, including for the ongoing Rabi season, had been achieved. These numbers were shared following the State Level Bankers’ Committee (SLBC) meeting on Monday that reviewed the performance of the banks for the June and September quarters.

According to a release, SLBC president and SBI Chief General Manager Om Prakash Mishra, making a presentation, said banks disbursed ₹10,791 crore as agri term loans towards investment credit, agri allied, agri infra and agri ancillary activities up to September this fiscal.

Total deposits of the banks, in the first half of current fiscal, stood at ₹5,34,031 crore, which was ₹49,591 crore more or 10.24% higher compared to March, 2020. Advances of the banks grew by ₹21,823 crore or 3.83% compared to March, 2020, to ₹5,92,241 crore in the first six months of 2020-21.

As on September 30, the CD ratio stood at 110.90% as against 117.75% as on March 31 due to disproportionate growth of advances to deposits, the release said.

During the same period, banks disbursed loans of ₹63,351 crore under Priority Sector thereby achieving 52% of the annual target.

The release said under the COVID-19 assistance ₹231 crore was disbursed to eligible farmers as 10% emergency credit line and 68,190 SHG members extended a loan of ₹370 crore. Under the PM SVANidhi scheme, the banks sanctioned loans to 3,21,340 street vendors and disbursed ₹10,000 each to a little over 2.07 lakh beneficiaries.

Senior officials of Telangana government led by Chief Secretary Somesh Kumar, Finance Secretary K.Ramakrishna Rao, senior bankers, including SBI deputy MD Sanjeev Nautiyal, and Economic Advisor to the Department of Financial Services Lalit Kumar Chandel participated in the meeting.

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