RRB credit flow & deposits jump | india | Hindustan Times
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RRB credit flow & deposits jump

THE STATE?S Regional Rural Banks (RRBs) have shown a remarkable increase of 62 per cent over the last year in credit flow to agriculture sector. Besides, they also registered a rise of 19.30 per cent in deposits, which grew from Rs 4162 crore on March 31, 2005, to Rs 4965 crore as on March 31 this year.

india Updated: Nov 21, 2006 17:56 IST

THE STATE’S Regional Rural Banks (RRBs) have shown a remarkable increase of 62 per cent over the last year in credit flow to agriculture sector. Besides, they also registered a rise of 19.30 per cent in deposits, which grew from Rs 4162 crore on March 31, 2005, to Rs 4965 crore as on March 31 this year.

The overall performance of the RRBs was announced here today in the State-Level Coordination and Review Committee and State-Level Forum Meeting for the RRBs of MP at National Bank for Agriculture and Rural Development, (NABARD), Regional Office.  This was the first meeting after the amalgamation of RRBs, in which 13 RRBs have been merged into 4 RRBs, bringing total to 10 RRBs in the State.

Chairing the meeting, NABARD Officer-in-Charge S N Pandey said banks could reduce non-performing assets (NPAs) by 2.27 percentage points, as the NPAs stood at 8.08 per cent.

All the RRBs earned a total profit of Rs 57.34 crore during the year 2005-06. The credit-deposit ratio increased from 47.68 to 52.72, he added.  

The meeting was attended by chairpersons of RRBs, senior officials of Reserve Bank of India, sponsor banks and joint director, Institutional Finance. The RRBs were advised to implement schemes like financing for sanitation facilities in
rural households, rural sales outlets for petro-products (Kisan Seva Kendras) and joint liability groups of tenant farmers. 

They were also advised to make all-out efforts for credit linkage of 7000 SHGs by March 31, 2007. Various operational and policy issues were also discussed.

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