DK banks cross business level of Rs. 25.8 crore

DK banks cross business level of Rs. 25.8 crore

Mangalore Today News Network

Mangalore, July 21: Speaking at a meeting held at Taluk Panchayat today, Syndicate Bank Deputy General Manager J. S. Shenoy, said that banks in DK district have crossed the business level of Rs. 25,885 crore on March 2011, adding that this business level has been achieved by 427 bank branches across the district, which includes deposits of Rs. 16,472 crore and advances of Rs. 9,413 crore. 

The meeting was held to review the role of banks in the implementation of credit plan and government sponsored schemes within the district. 

Further, Mr. Shenoy said that the credit to deposit ratio of the district was 57 in March 2011, stating that there is an year-on-year increase in deposit by 14 percent and in advances by 15 percent.
Stating that the Indian Government has directed that banking business should be introduced in 213 villages through business correspondents, Mr. Shenoy said that 32 villages have already covered by various bank branches, added that the residents of these villages will be provided biometric cards that identify thumb impression. This will assist villagers to operate their savings accounts and receive money under pension schemes and wage payment under MGNREGP without having to visit branches, he added. 

He also said that, according to the directions of the Reserve Bank of India, financial literacy and credit counseling centre has been opened in the district to educate people in rural areas regarding various aspects of banking. 

Speaking on the occasion, MLA U. T. Khader protested against the problems faced by students to get educational loans from banks. In response, M. S. Hasan, the LDO of RBI, said that such students must approach the lead bank manager of the district. While clarifying that collaterals are not required for educational loan up to Rs. 4 lakh, Mr. Hasan urged bank officials to stick to rules. 

Hemanth Bhide, the lead district chief manager of Syndicate Bank, and district coordinators and executives of various banks participated in the meeting.