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Zero balance PMJDY, SB accounts must become operational

Zero balance PMJDY, SB accounts must become operational

Mangalore Today News Network

Mangaluru, Mar 26, 2015:   Addressing the district-level review committee meeting of bankers in Mangaluru on March 25, Syndicate Bank AGM Narayana Naidu said about 70 per cent of accounts opened under the   Pradhan Mantri Jan Dhan Yojana (PMJDY)  have remained zero balance accounts.  Banks in Dakshina Kannada should try to reduce the zero balance accounts opened under  to less than 30 per cent in the next few months.


zp press meet ..


zp press meet .

The scheme was launched to introduce banking habit  among the general public. The bankers should ensure that customers operate and use the banking facilities.  He said banks have to speed up Aadhaar seeding and issue RuPay cards to the account holders. RuPay cards have to be issued to all accounts opened during PMJDY campaign. 

The banks have to create awareness among RuPay Card holders to keep their cards active through regular transaction as the cards become inactive if not operated within 45 days to get the benefit of Personal Accident Insurance coverage up to Rs 1 lakh.

Wherever the cards are not delivered to the beneficiaries, the branches have to evolve an alternate strategies and ensure that the beneficiaries collect their cards so as to be eligible for accident insurance cover/life insurance cover and other government benefits.

Credit Deposit ratio :  Banks in Dakshina Kannada district should try to improve their credit-deposit (CD) ratio. The CD ratio in the district showed an increase of 5.51 per cent to the corresponding CD ratio of 50.75 per cent as on December 31. The credit off take of banks needs to be improved to reach minimum bench mark of 60 per cent by December end.   Still scope exists for improving the CD ratio in the district by lending medium term loans, he said.

The CD ratio of Corporation Bank, SBP, SBT, SBH, Allahabad Bank, BOM, BOB, PSB, UBI, Indian Bank, Indus Ind Bank, KVGB and SCDCC Bank crossed more than 60 per cent in the district.  The bankers promised to improve their CD ratio by next financial year.

Lead Bank Manager Prabhu Alagavady said 519 branches of various banks in the district touched a business of 48,018.12 crore as on December 31, translating into a growth of 17.59 per cent (YoY).  The deposits in the banks stood at Rs 30,729.83 crore indicating a growth of 13.44 per cent while the advances stood at 17,288.29 crore with a growth of 25.76 per cent.  The total disbursement (priority sector advances (PSA) and NPS) in the district is Rs 7294.02 crore at the end of third quarter.

Agriculture :  The disbursement under agriculture sector was Rs 1555.48 crore and the achievement is 51.02 per cent when compared with annual target and it is 68.02 per cent of the target for third quarter.

The Lead Bank Manager said that the disbursement under MSME was Rs 953.47 crore and the achievement was 82.37 per cent of the annual target of Rs 1,157.50 crore. The market share of Dakshina Kannada in the total business of the state has decreased from 4.27 to 4.67 per cent as on December end. Market share in deposits has eroded by 0/32 per cent whereas the share of advances has increased by 0.28 per cent, he added. The banking sector in the district has met RBI stipulations regarding lending to agriculture, priority sector, minorities, women and weaker sections. Hopefully an even better focus will emerge soon

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