The 134th State-level Bankers’ Committee (SlBC) meeting held here on Monday approved Rs 40,000 as priority sector advance target under Annual Credit Plan for the State for the current fiscal.
The meeting held under chairmanship of UCO Bank CMD Arun Kaul was attended by State Finance Secretary, RBI Regional Director, NABARD CGM, SBI CGM, Secretaries of various departments and controlling heads of all the Banks operating the State. UCO Bank’s circle head and SlBC Convenor SP Singh welcomed the participants.
Besides approving for Rs 40,000 crore as target for priority sector finance, the committee reviewed the performance of all the banks operating in the State.
It was revealed that the bank’s CD ratio in whole in the State was 89.70 per cent. The banks which have not achieved the CD ratio of national parameter of 60 per cent were advised to achieve the same immediately. The percentage of priority sector advances to total advance is 55.27 per cent against the national parameter of 40 per cent.
The commercial banks’ total advance to agriculture sector stood at Rs 26,023.86 crore which is 28.95 per cent of total advance against the national parameter of 18 per cent.The banks in Odisha have issued 6,86,244 Kishan Credit Cards (KCCs) for Rs 7,312.35 crore during the half year ending December, 2013.
Similarly they have financed Rs 64.95 crore to 8,435 numbers of Joint liability Groups (JlGs) during the same period. The banks were advised to give more stress on financing to MSME sector for the State’s development.