Regional Director of Reserve Bank of India (RBI) R. Subramanian said that the performance of banks in Telangana State was fairly well.
The RBI official was addressing the Quarterly Review meeting of State Level Bankers’ Committee here on Thursday. He said that Rs.10/- coins are perfect legal tender and advised the bank to spread the message among the public as there is some confusion in the public.
The meeting was also attended by Finance Minister Etala Rajender, Finance Dept Secretary Sandeep Kumar Sultania, Agriculture Department Parthasarathy, SBI Telangana Circle in-charge CGM Prabodh Parikh, NABARD CGM Dr. Radhakrishnan, RBI General Manager Subbaiah and SBI General Manager SBI & Convener SLBC Telangana UNN Maiya.
Presenting the performance of Banks in the State for the quarter ended June 2017, Prabod Parikh informed that 49 new bank branches have been opened in the State during the quarter taking the total number of bank branches 5444. Total Deposits of the banks are at Rs.385390 crores and total Advances of the banks grew by Rs.27378 crores quarter and are at Rs.420232 crores as on 30th June 2017. CD ratio has improved from 99.28% from 109.94% during the quarter on account of substantial growth in advances during the quarter.
During the quarter ended June 2017, Banks have lent Rs. 9919.49 Crores under Short Term Agriculture Credit and lent Rs.3119 crores as term loans to agriculture and allied activities during the quarter. Banks have lent Rs.121 crores towards educational loans and Rs.932 crores to housing loan beneficiaries during the quarter.
Banks together have disbursed Rs.27304 crores to beneficiaries under Priority Sector segments, achieving 34% of annual targets. Banks have disbursed Rs.12899 crores to Micro, Small & Medium enterprises segment during the quarter. Banks have disbursed Rs.830 crores to beneficiaries under Minorities category and Rs.3586 crores to beneficiaries under ‘Weaker Sections’. An amount of Rs.1339 crores was disbursed to beneficiaries under “SCs/STs category” during the quarter.
During the quarter ended June 2017, banks have so far disbursed Rs.842 crores to 65,001 beneficiaries under Pradhan Manthri Mudra Yojana scheme.
The Finance Minister, during his address complimented the banks for the support lent in implementing the Mission Bhagiratha and Mission Kakatiya in the State. He further stated that Government is providing subsidy to the tune of 50% to 80% to the government sponsored schemes and requested the banks to quickly sanction loans for the bank component.
The Agriculture Minister requested the banks to speed up lending under Agriculture and invariably cover all the farmers under the PMFBY/WBCIS.
Secretary Agriculture Parthasarathy said that there are very good rains this season and farmers will have good yields. He advised the banks to extend crop loans liberally.
Sandeep Sultania advised the banks to encourage financing SC/ST and weaker section borrowers for their upliftment. He also requested the banks to vigorously campaign for Aadhaar seeding and authentication as without these digital payment initiatives of Government may not succeed to the extent desired.
General Manager of Andhra Bank Satyanarayana Reddy, GM of Canara Bank GR Reddy, GM of Syndicate Bank SP Sharma and Chairman APGVB Narsi Reddy have also participated in the meeting.