Udupi ZP CEO directs bank to link Aadhaar ID with MGNREGS

Mangalore Today News Network

Udupi, Oct 01, 2016: Udupi Zilla Panchayat Chief Executive Officer Priyanka Mary Francis said the banks in the district should concentrate on linking the Aadhaar cards to the accounts of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

 

Speaking at a quarterly meeting of the district-level review committee for banking in the district,  Udupi Zilla Panchayat Chief Executive Officer Priyanka Mary Francis said the banks in the district should concentrate on linking the Aadhaar cards to the accounts of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

The CEO told the officials to complete the formalities by the first week of October.  Syndicate Bank Regional Manager S S Hegde said the total deposits of the banking sector in the district is Rs 18,415 crore and the total advances are Rs 9,236 crore. He added there is a decrease in the CD ratio from 50.43% to 50.15%.

He said banks disbursed loan to the extent of Rs 1,838.26 crore as against the annual target of Rs 7,014.70 core. A total of Rs 608.83 crore is disbursed to agriculture sector and Rs 719.58 crore to micro and small and mediums enterprises, he added.  He said Rs 146.70 crore was lent to 18,409 SC/ST beneficiaries and around 44,317 beneficiaries belonging to minority communities have been financially assisted to the extent of Rs 987.90 crore.

He said as many as 1,20,395 women were offered the loan amount of Rs 2,261.74 crore. He said the district lags behind in disbursing the education and housing loans. He stressed that the loans for the education and housing sector should be improved. RBI (Bengaluru) General Manager K Ganesh said the NPA is very low in the district, hence the banks in the district should concentrate on offering more educational and housing loans.

The agriculture sector has recorded 21.4% growth while reaching out to 20,879 beneficiaries with Rs 608.83 crore. The amount disbursed is Rs 709 crore as against the target amount of Rs 500 crore, which has recorded 142% of the growth rate. The sudden growth is recorded as the food processing earlier was considered under MSME and currently is under agricultural sector. There are 239 rural branches contributing 36.69% to the total business transactions of the banks in the district.There are 88 semi urban branches with 30% contribution and 80 urban branches contributing 37% to the banking transactions, Hegde said.