Banking sector in DK up by 16%

Banking sector in DK up by 16%

Mangalore Today News Network

Mangaluru :  The district-level review committee meeting on banking  July 10,  lead bank Syndicate Bank’s Deputy General Manager Narendranath Kamath said the total disbursement under priority sector was Rs. 5,233.01 crore as against the annual target of Rs. 6,402 crore, an achievement of 81.74 per cent. 
 Banks in Dakshina Kannada district have achieved a business of Rs. 49,954.28 crore in 2014-15, registering a year-on-year increase of 16.08 per cent.   Deposits stood at Rs. 31,926.58 crore indicating a growth of 13.98 per cent while advances stood at Rs. 18,027.70 crore during the period.

Also disbursement under the non-priority sector was Rs. 3,593.73 crore as against the target of Rs. 1,380 crore, an achievement of 260.42 per cent. The banks could have done well in the priority sector too, particularly in the primary/farm sector, he said.

The credit to deposit ratio (CD ratio) at the end of March 2015 was 56.47 per cent, though it improved marginally by 0.21 per cent at the end of first quarter of 2015-16. The benchmark CD ratio, 60 per cent, as stipulated by the RBI, is still to be achieved and banks have to gear up to achieve it, Mr. Kamath said. Some of the banks, including Syndicate Bank, private banks, cooperative banks and KVGB, have CD ratio above 60 per cent.

At least 229 branches in urban areas of the district garnered a share of 67.25 per cent of deposits and 68.40 per cent of advances, and 250 rural branches got a share of 17.45 per cent of deposits and 17.41 per cent of advances.