Banks in Telangana lent crop loans totalling ₹29,235 crore till December in the current financial year, thereby achieving 55% of the targeted amount of ₹53,222 crore.
They disbursed ₹14,348 crore as agri term loans towards investment credit as well as for agriculture allied, infrastructure and ancillary activities during the same period.
The overall achievement in agriculture stood at 58% of the annual credit plan target, said a release on the State Level Bankers’ Committee (SLBC) meeting that reviewed the performance for the quarter ended December 2020.
Chief Secretary Somesh Kumar and a few senior officials from the State government; Economic Advisor to the Centre’s Department of Financial Services Lalit Kumar Chandel; CGM of SBI Hyderabad Circle and the SLBC President Om Prakash Mishra as well as several senior bankers and officials participated in the meeting held virtually on account of COVID-19 pandemic.
Upto December, total deposits stood at ₹5,47,010 crore, an increase of 12.92% from March 2020. It was an increase of 8.80% compared to the ₹5,02,748 crore deposits as on December 31, 2019.
Advances at ₹6,09,645 crore, upto December 2020, were higher by ₹39,227 crore or 6.88% more compared to March 2020. In comparison to the Advances of ₹5,57,068 upto December 2019, it was an increase of 9.43%. The release said the CD (credit-deposit) ratio stood at 111.45% upto December 2020 against 117.75% as on March 2020 due to higher growth in deposits compared to advances.
Under priority sector lending, banks in the State disbursed loans totalling ₹80,570 crore, thus meeting 66% of the annual targets till December. Disbursements to micro, small and medium enterprises (MSME), a segment impacted severely as a result of the pandemic, upto December was ₹32,772 crore or 93% of the annual target. Under Priority sector ₹498 crore were lent towards educational loans and ₹2,523 crore towards housing loans.
The release said disbursements totalling ₹3,047 crore were made to nearly 3.29 lakh beneficiaries under the Pradhan Mantri Mudra Yojana (PMMY) and ₹318 crore to 1,327 beneficiaries under the Stand up India scheme upto December.
On the financial inclusion plan front, the release on the SLBC meeting said, 101,17,265 PMJDY (Jan Dhan) accounts have been opened by banks upto December. The balance in such accounts, as on December 31, was ₹2,808.30 crore.
Under the Atma Nirbhar Bharat (stimulus) package, announced by the Centre, the banks sanctioned ₹6,697 crore and disbursed ₹5,498 crore to MSMEs under Guaranteed Emergency Credit line of 20% of working capital limit upto December. A total of 90% of beneficiaries were covered under the scheme, while 10% opted out. Under COVID -19 assistance a total of ₹231 crore was disbursed to eligible farmers as 10% emergency credit line. A loan of ₹370 crore was provided to 68,190 SHG members under COVID-19 Emergency credit line.
