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Social security schemes need support from Banks, societies

Social security schemes need support from Banks, societies

Mangalore Today News Network

Udupi, Dec 27, 2019:  Syndicate Bank Regional Manager Sujatha, addressing the quarterly meeting of the lead banks at V S Acharya hall at the zilla panchayat (ZP), declared that banks had dispersed loans up to Rs 11,914 crore during the term and the credit-deposit ratio(CD ratio) stood at 48.77%.    Banks in the district registered a 5.78% growth in deposits (Rs 24,427 crore) for the quarter in the year 2019-20.

ZP CEO Preeti Gehlot said that the banks and cooperative societies should support the government in implementing social security schemes. Banks had reached the target of disbursing Rs 2,302 crore loan as against the target of Rs 3,157 crore for priority lending sectors.



As much as Rs 1,248 crore was spent on agriculture, Rs 680 crore for small and medium industries, Rs 51 crore on education and Rs 206 crore on the housing schemes.

The target for the empowerment of weaker sections was Rs 3,541 crore for 39,100 beneficiaries. As much as Rs 508 crore was earmarked for 33,652 scheduled caste beneficiaries. As many as 1,32,030 women beneficiaries had got benefits worth Rs 2,458 crore. A total of 2,614 students had received loans to the tune of Rs 51 crore.

RBI, Bengaluru assistant general manager P K Patnayak said that Udupi district’s CD ratio was poor when compared to other districts. He urged officers to work on increasing the CD ratio.

He said that digital banking should be promoted. He also elaborated on the new set of rules introduced by RBI on banking.

Lead bank manager Rudresh said that Rs 210 crore was distributed to 23,228 Kissan card holders.  NABARD assistant general manager Ramesh said that loan distribution in the district was not satisfactory. He directed that loans should be distributed to NABARD sponsored programmes and training programmes,  strategy for improvement needs to be put in place.

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