Bank advances to total Rs 627,039 crore in 20-21

Bank advances to total Rs 627,039 crore in 20-21

Bank advances to total Rs 627,039 crore in 20-21 (Representative Image)


State-Level Bankers’ Committee launches ACP for FY 2021-22

Hyderabad: The State-Level Bankers' Committee (SLBC) convened its 29th quarterly meeting on Monday to review the performance of the banks for the quarter ended March 2021 along with launching of annual credit plan (ACP) for 2021-22. The meeting was held in the Secretariat, BRKR Bhavan

The meeting was attended by T Harish Rao, Finance Minister, BB Patil, MP (Zaheerabad), Om Prakash Mishra, Dy. Managing Director, SBI and president, SLBC, K Ramakrishna Rao, Principal Secretary (Finance), Sandeep Sultania, Secretary (PR &RD), Ronald Rose, Secretary (Finance), A K Dogra, Director, DFS, Union Ministry of Finance, K Nikhila, Regional Director, Reserve Bank of India, Y K Rao, Chief General Manager, NABARD, controllers of banks in the State and various heads of State departments, an official release said.

Mishra presented the performance of the banks in Telangana up to March 2021 and highlights of ACP as under: total deposits of banks grew by Rs.87,469 crore (18.05%). The total deposits were at Rs. 571,909 crore.

He said the total advances grew by 56,621 crore (9.92%) . The advances of all banks were at Rs. 627,039 crore. During the FY 20-21, banks lent Rs. 41,200 crore under Kharif & Rabi. They disbursed Rs.16,816 crore as term loans towards investment credit, agri- allied, agri-infra and agri-ancillary activities.

The lending towards educational/housing loans under the priority sector was Rs.693 crore and Rs.4,162 crore respectively. The banks together disbursed Rs.103,126 crore to borrowers under the priority sector, achieving 84.04% of targets.

The banks disbursed Rs.38,416 crore to the MSME segment, achieving 109 % of the targets. Under the Pradhan Manthri Mudra Yojana Scheme, they disbursed Rs.6,445 crore, as against a target of Rs.5,197crore, achieving 124% of targets.

The banks covered all the 255 unbanked rural centres with population above 5,000 with brick and mortar branches or with banking outlets. All villages within five km radius and villages with 500 and above households in hilly areas have been covered with banking infrastructure. They so far opened 103.79 lakh accounts under PMJDY. As many as 85.28 lakh seeded with Aadhar and RuPay cards were issued to 84.39 lakh accounts.

About 102.36 lakh customers were covered under the Pradhan Manthri Suraksha Bheema Yojana (PMSBY) and 39.26 lakh customers under the Pradhan Manthri Jeevan Jyothi Beema Yojana (PMJJBY). As many as 9.39 lakh customers were subscribed under the Atal pension Yojana.

According to Mishra, the banks sanctioned Rs.7,080 crore and disbursed Rs.5,969 crore under the Guaranteed Emergency Credit line of 20%. Under the PM Street Vendor's Atma Nirbhar Nidhi (a micro finance scheme for street vendors), they sanctioned 352,167 applications and disbursed 310,145 up to May 2021. The State occupied pan India number 1 position in disbursal of the PM Svanidhi loans, with SBI taking lead with 42% of disbursals.

He said under the Agriculture Infrastructure Fund, a target of Rs.3,075 crore was set for four years. During the first year 20-21, banks sanctioned Rs.334 crore. The current financial year's ACP Plan outlay is higher than previous year at Rs.186,035 crore, of which the priority sector share is Rs.143,954 crore (77.38%).

The agriculture segment has a major share of 63.59% of the priority sector at Rs. 91,541 crore, whereas MSME segment has a share of 27.34% (Rs. 39,361 crore) out of the priority sector advances. An investment credit disbursal target of Rs.32,102 crore has been projected to promote sustainable income for farmers.

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