Banks in Telangana lend 80,710 cr for priority sector

Hyderabad: State Level Bankers' Committee (SLBC), Telangana which convened its 32nd quarterly meeting on Tuesday to review the performance of the banks for the quarter ended December 2021 estimated that banks disbursed Rs 80,710 crore under priority sector, achieving 55.91 per cent of annual targets, during the current fiscal.

Total deposits of the banks stood at Rs 603,548 crore as on December 31, 2021.

Total advances grew by Rs 25,889 crore (3.81 per cent) during the quarter and the advances are at Rs 706,123 crore for the period. The CD ratio increased from 110.11 per cent to 117 per cent. Banks have disbursed short term agriculture production loans to the extent of Rs 31,489 crore during current financial year, achieving 53 per cent of targets. Agriculture term loans to the tune of Rs11,709 crore have been disbursed during the current financial year towards investment credit, agri, allied, agri infra and agri ancillary activities.

Banks disbursed Rs 610 crore towards educational loans and Rs 3,259 crore towards housing loans during the current financial year.

Banks have disbursed Rs 32,210 crore to micro, small & medium enterprises (MSME) segment during the current fiscal achieving 81.83 per cent of the targets. Under Pradhan Mantri Mudra Yojana, banks have sanctioned Rs 2,865 crore, during the current year, achieving 41.55 per cent of the annual targets.

Under Atmanirbhar Bharat Abhiyan, banks have sanctioned Rs 8,299 crore and disbursed Rs 7,049 crore during the current fiscal to MSME beneficiaries under Guaranteed Emergency Credit line of 20 per cent.

Banks have sanctioned Rs 7.38 crore under Credit Guarantee Scheme for Subordinate Debt (CGSSD) and disbursed Rs 2.47 crore. Under PMSVNidhi Tranche 1, banks have sanctioned 3,57,557 applications and disbursed 3,43,213 as on March 24 this year. 82 per cent of the disbursals have been contributed by the public sector banks and SBI took lead with 43 per cent of total disbursals.