Business

The State Level Bankers’ Committee, Telangana held its meeting to release Annual Credit Plan for the year 2015-16 and to review the performance of banks in the State for the quarter ended March 2015.

Minister for Agriculture Pocharam Srinivasa Reddy is the chief guest and the meeting has been presided over by Santanu Mukherjee, President SLBC & MD SBH. Annual Credit Plan has been launched by the Agriculture minister and attended by Pradeep Chandra, Special Chief Secretary Finance, Parathasarathy, Principal Secretary Agriculture, K.Ramakrishna Rao, Secretary Finance, Subba Rao, Joint Secretary, Ministry of Finance, Government of India, Viswanathan, Chief General Manager, SBH, J.Sitapathi Sarma Convener SLBC & GM SBH , VVV Satyanarayana, Chief General Manager, NABARD, G J Raju, General Manager, RBI, apart from bankers and officials from government departments.

Highlihgts of the performance of banks in the State:

Annual Credit Plan 2015-16 has been drawn with a outlay of Rs.72119 crores.
Priority Sector Advances has lion's share of Rs.47360 crores I.e 66%
Agriculture advances are projected at Rs.30995 crores I.e 65% of Priority Sector advances.
Highlights of performance during 2014-15:
Network of bank branches in the State crossed 4900 mark and reached 4919.
Total Deposits of the banks stood at Rs.3,28,181 crores with a growth of Rs.42302 crores during the year.
Total Advances of the banks stood at Rs.3,54,166 crores with a growth of Rs.29202 crs over March 2014.
Annual Credit Plan targets of 2014-15 have been surpassed by banks in the State. Priority sector targets have been achieved to the extent of 119% and Non Priority sector targets to the extent of 290% taking the total achievement to 180%
Targets under Agricuture achieved to the extent of 100.16% with disbursals of Rs.27276 crores.

CD ratio Stood at 107.92% . CD ratio of our State is one of highest in the country.

Priority sector advances of the State stood at Rs.111403 crores with a growth of Rs.8785 crores during the year. Priority sector advances constitute 31.46% of total advances.

Banks have lent Rs.18420 crores under Kharif/Rabi 2014-15 and achieved 98% of the targets. Agricultural advances constitute 14.48% of total advances.

Micro and small enterprises have grown by Rs.4258 crores during the year and stood at Rs.33559 crores. Targets under this category is achieved to the extent of 202%.

Banks have completed process of providing banking sevices in respect of identified villages having population above 2000. In respect of villages with population below 2000, 27 villages are left over and the same will be covered with banking services shortly, within the targetted time of August 14 2015.
Under PMJDY, Banks have opened 61.93 lac accounts of which RuPay debit cards have been issued for 52.50 lakh accounts. Aadhaar seeding has been done for 41.85 lac accounts.

29 FLCCs are functioning in the State which are regularly conducting financial literacy camps.
Pocharam Srinivasa Reddy said that sowing started in many parts of the State as there has been good rainfall and requested the bankers to lend crop loans liberally. He requested the bankers to encourage Polyhouses cultivation for which Government of Telangana is providing upfront subsidy of 75% .

Minister had also requested for liberal financing of farm mechanisation schemes for which Government of Telangana is providing 50% subsidy. He complimented the bankers for renewing 98% of targetted crop loans during the financial year 2014-15. (June 23 2015) a