Banks achieved 31% of Kharif loan targets by June

Banks in Telangana disbursed crop loans totalling to ₹11,040 crore during the quarter ended June, the State Level Bankers’ Committee (SLBC) said in a release following the Quarterly Review meeting.

The disbursement of the short-term production loans translated into 30.95% of Kharif targets. During the same quarter, the banks disbursed ₹3,783.49 crore as agriculture term loans towards Investment Credit as well as agri allied, infrastructure and ancillary activities, the SLBC said after the meeting that was conducted virtually. Finance Secretary Ronald Rose and senior government and bank officials participated.

In a presentation on the performance of the banks, the SLBC president and SBI Chief General Manager Amit Jhingran said total deposits of the banks grew by ₹31,007 crore during the quarter to ₹6,02,917 crore, while total advances increased ₹40,498 crore to ₹6,67,537 crore. The CD ratio marginally increased to 110.72% from the 109.64% as on March 31.

The banks disbursed ₹126.71 crore towards educational loans and ₹818.20 crore towards housing loans during the quarter. Their disbursement during the quarter under Priority Sector stood at ₹27,862.99 crore, which translated into 23.10% of the annual targets. MSME loans disbursed totalled ₹11,689.75 crore or 29.70% of the target.

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