Bank deposits in the district witnessed an increase of ₹753.27 crore in the last quarter. Banks in the district had ₹52,144.70 crore deposit in September against ₹51,391.43 crore in June.
A review of the banking sector held in Malappuram on December 20 pointed out that there was a proportionate increase in the NRI deposits in the quarter ending September.
NRI deposits alone were ₹13,221.23 crore against June’s ₹13,208.89 crore.
Banks gave ₹35,317 crore in loan. The credit rate has increased by ₹463 crore from that of the last quarter.
The credit-deposit (CD) ratio in the district stood at 67.73 per cent. In the quarter ending June, it was 64.83 per cent.
Kerala Gramin Bank had the biggest CD ratio of 82.15 per cent. Canara Bank had 75.86 per cent, State Bank of India 42.1 per cent, Federal Bank 31.96 per cent, and South Indian Bank 42.77 per cent.
The meeting called upon the banks to enhance their CD ratio above 60 per cent.
As per the annual credit plan, the district has achieved 58 per cent in the current fiscal. Against a target of ₹18,800 crore, banks in the district have issued ₹10,836 crore in loans. As much as ₹7,382 crore was in priority sector.
The meeting urged banks not to cause delays especially in PM SVANidhi loan scheme meant for street vendors. Banks were told to attend the Akshaya Big Campaign for Document Digitization (ABCD) camps organised by the State government for the poor. The banks were also told to inform the people of various aid schemes by the governments.
Presiding over the function, District Collector V.R. Vinod reminded banks of the immensely significant role they ought to play in the country’s development. He exhorted them to help the jobless and the farmers.
Mr. Vinod also released the Potential Linked Credit Plan (PLP) prepared by the National Bank for Agriculture and Rural Development (NABARD).
Lead District Officer V. Savio Jose, NABARD district development manager A. Mohammed Riyas, Canara Bank general manager Anoop, and District Lead Bank manager M.A. Titan spoke.
