mangalore today
name
name
name
Sunday, December 08
namenamename

 

Major banks have below 60% cash deposit ratio, CDR

Major banks have below 60% cash deposit ratio, CDR


Mangalore Today News Network

Mangaluru, Sep 26 2019: The 175th District Level Review Committee (DLRC) meeting; and 174th District Consultative Committee (DCC) meeting were held at the Netravati Hall of Dakshina Kannada Zilla Panchayat in Mangaluru on Sept 25, Wednesday.  The Cash Deposit Ratio (CDR) of many major banks including Canara Bank, Corporation Bank, Bank of Baroda and SBI are below 60% -as on June 30, 2019.


zp-pressmeet2


Chairing the meet, Dakshina Kannada Zilla Panchayat CEO Dr R Selvamani opined that banks need to improve their CDRs. Many banks recorded negative growth in advances he noted. The ZP CEO noted that many regional banks have been mobilizing huge amount of funds to other regions.

Dr R Selvamani further said that the banks should lay emphasis on Aadhaar enrollment in rural areas. Also, applications related to Prime Minister’s Employment Generation  Programme, Dr B R Ambedkar Development Corporation, Women and Child development programmes should be prioritised, he said. The CEO suggested holding loan melas in rural areas.

Performance figures :  Total business by 39 banks in the district was Rs 72677.07 crore, with a year-on-year growth of 5.25%. Deposits stood at Rs 46052.02 crore indicating a Y-O-Y growth of 8.36% and the advances stood at Rs 26625.05 crore during the period, with a Y-O-Y growth of 0.28%. But, the CD ratio was 57.82% which is 4.65% less from the corresponding CD ratio of 62.47% as on June 30, 2018.

District Lead Bank Manager Pravin said the short term crop loans availed by farmers from the banks, have been converted into long term loans, by providing time relaxation to farmers affected by floods. “But the facility will not apply to those who are overdue (as applicable to the previous financial year)” he added.

Stating that loan restructuring was declared by the state government on August 10, Reserve Bank of India AGM P K Patnaik said that the provision would bring relief to the short term loan borrowers.

He added that the State Level Banker’s Committee (SLBC) had come up with detailed guidelines in this regard (subsequent to the government notice). The processing should be completed by the banks before November, he hoped.

RBI AGM P K Patnaik said that all banks should upload the details of Business Correspondents to the BC Registry of Indian Banks’ Association (IBA). The portal www.iba.org.in/bcregistry/ is open for public view, he said.   Nabard DGM S Ramesh and Syndicate Bank  Regional Manager Ramakanth Bhat were also present at the meeting.


Write Comment | E-Mail | Facebook | Twitter | Print
Write your Comments on this Article
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment
You have characters left.
Security Validation
Enter the characters in the image above