Rural branches grow 41% faster than urban branches – J. S. Shenoy

Rural branches grow 41% faster than urban branches – J. S. Shenoy

Mangalore Today News Network

Mangalore, Nov 9, 2012:  J. S. Shenoy, deputy general manager of Syndicate Bank, said that deposit growth in the bank’s rural branches surpasses that of urban branches by 41 percent. The urban branches, on the other hand, have registered growth by 28%.

Speaking at a banking businesses meeting held in the ZP Auditorium on Nov 9, Friday, he said that banking business in the DK has crossed the Rs. 34,600 mark.

 

 

Analyzing market share, he said that market share of rural branches in business volume has increased while that of urban and semi-urban branches has reduced. Lauding rural branches for their impressive performance, he said that the credit off take needs to be improved in the district in order to achieve the sustained CD ratio of at least 60%.

Mr. Shenoy also observed that the market share of DK in banking businesses has increased from 4.45% in June 2011 to 4.93% in June 2012 at the state level. Further, he said that deposit growth of private sector banks was 79%, adding that public sector banks need to take note of this.

Hemanth Bhide, lead district chief manager, said that Rs. 1053 crore has been disbursed under the District Credit Plan as against the first quarter target of Rs. 1225 crore. Besides, Rs. 406 crore was disbursed under the farm sector as against the target of Rs. 489 crore, and Rs. 95 crore was disbursed as against the target of Rs. 99 crore under the Micro and Small Enterprises.

Dr. K. N. Vijayaprakash, CEO of ZP, chaired the meeting. He honored Mumtaz Hussain of Kapu, Shiva Kumar Pailoor of Ajjibettu, and Keshava Gowda of Bajathur for setting up three medium-sized goat farming units.