HT Image
HT Image

Credit offtake growth dips in Punjab, Haryana

Growth of banking credit offtake dipped in Punjab and Haryana with industry blaming banks for not extending advances on account of rising bad loans.
By HT Correspondent | PTI, Chandigarh
UPDATED ON MAY 28, 2014 06:55 PM IST

Growth of banking credit offtake dipped in Punjab and Haryana with industry blaming banks for not extending advances on account of rising bad loans.


The total advances grew by mere 8.09 per cent in Punjab during April 2013 and March 2014 period as compared to expansion of advances by 20.70 per cent in corresponding period of last year, as per the latest report of State Level Bankers Committee (SLBC).

Total advances in Punjab went up by Rs 13,884 crore to Rs 1,85,358 crore as on March 2014 as against total lending of Rs 1,71,474 crore in corresponding period.

Particularly in semi urban and urban areas, the banks witnessed major fall in demand for advances which dropped to 5.76 per cent and 6.89 per cent respectively, as per report.

However, priority sector advances and agriculture jumped by 19.12 per cent and 21.23 per cent to Rs 98,502 crore and Rs 48,520 crore in Punjab.

Similarly in Haryana, banks' lending grew by 13.5 per cent as compared to 15 per cent in corresponding period of last fiscal, as per SLBC report.

The advances in Haryana grew by Rs 18,817 crore to Rs 1,57,826 crore for 2013-14 period.

Industrial sector has blamed banks for not giving loans particularly to industrial sector, saying banks were focusing only on housing and vehicle loans segment at the cost of industry.

"There is no dearth of demand for finance at all from industrial sector. Rather banks are shying away from extending loans for their needs," Federation of Associations of Small Industries of India (FASII) President Badish Jindal said.

"The main reason behind banks not approving loans to industrial sector is rising NPAs as banks are tightening their norms in order to avoid lending to industry," he alleged.

Jindal said despite directions by RBI, banks were still not extending collateral free loans of up to Rs 10 lakh to industrial sector.

Jindal said that the banks were even reluctant to provide detail of loan seeking applications which have been rejected by them.

Notably, even Haryana government had also expressed concern over "declining" trend in priority sector, farm sector lending and "insufficient" financing in some districts.

As per SLBC report, farm lending target achievement in districts, including Faridabad, Jhajjar, Mewat and Sonepat for the period 2013-14 was abysmally low at 47 per cent, 57 per cent, 49 per cent and 62 per cent, respectively.

The priority sector advances percentage was 56 per cent as on March 2012 which came down to 50 per cent in March 2014 while agriculture credit to total advances also fell from 27 per cent in 2012 to 21 per cent in 2014.

SHARE THIS ARTICLE ON
Close
Dushyant Chautala said the state government held eight rounds of meeting with industry associations before this law was made.(HT file photo)
Dushyant Chautala said the state government held eight rounds of meeting with industry associations before this law was made.(HT file photo)

Haryana deputy CM says open to suggestions about private sector reservation law

PTI, Chandigarh
PUBLISHED ON MAR 07, 2021 07:18 PM IST
"It will be our endeavour to frame the rules by the end of this month. Next month, we will run employment drives in all 22 districts and 67 employment exchanges in the state," Dushyant Chautala said
Close
The Chief Minister claimed that the government had fulfilled 455 out of the 546 commitments made in the election manifesto during the 2017 elections.(HT Photo)
The Chief Minister claimed that the government had fulfilled 455 out of the 546 commitments made in the election manifesto during the 2017 elections.(HT Photo)

Punjab CM orders immediate action on '7-point agenda 2022'

ANI, Chandigarh
PUBLISHED ON MAR 07, 2021 06:23 PM IST
"The agenda is centered around citizen welfare through a holistic focus on the overarching development of the state," said an official statement issued by the Punjab Government.
Close
 (iStockphoto)
(iStockphoto)

Witerati: Women’s Lib, the new normal style

By Chetna Keer
PUBLISHED ON MAR 07, 2021 01:43 AM IST
The new normal has perhaps done for women’s liberation what the old normal’s Women’s Lib couldn’t do
Close
RS Dharmakumarsinhji (centre) with Frank and John Craighead. (PHOTO COURTESY: AAPNU BHAVNAGAR)
RS Dharmakumarsinhji (centre) with Frank and John Craighead. (PHOTO COURTESY: AAPNU BHAVNAGAR)

Wildbuzz: The spirit of learning

By Vikram Jit Singh
UPDATED ON MAR 07, 2021 01:25 AM IST
Sarfrazuddin Malik, scion of a family of erstwhile jagirdars from Dasada, Gujarat, nurtured an inborn, insatiable passionfor falconry
Close
The then state sports minister Anil Vij had tweeted on September 14, 2019 that Dev will be first chancellor of the Sports University at Rai. (HT Photo)
The then state sports minister Anil Vij had tweeted on September 14, 2019 that Dev will be first chancellor of the Sports University at Rai. (HT Photo)

Kapil Dev’s appointment as sports university chancellor hits a hurdle

By Hitender Rao, Chandigarh
PUBLISHED ON MAR 07, 2021 01:09 AM IST
Haryana’s move to appoint 1983 World Cup winning captain and cricket legend Kapil Dev as the first chancellor of the Haryana sports university at Rai in Sonepat has hit a a stumbling block with the state government deciding to withdraw the Sports University of Haryana Bill passed by the assembly in August 2019 following an objection by the Central government
Close
A prospective observational study was conducted in the 22-bed emergency between February and December 2019, and has appeared online in the Indian Paediatrics Journal, ahead of its print edition, in February. (HT FILE PHOTO)
A prospective observational study was conducted in the 22-bed emergency between February and December 2019, and has appeared online in the Indian Paediatrics Journal, ahead of its print edition, in February. (HT FILE PHOTO)

Overcrowding in emergency linked with increased mortality: PGIMER study

By Amanjeet Singh Salyal, Chandigarh
PUBLISHED ON MAR 07, 2021 12:35 AM IST
The data correlated significant overcrowding in the emergency, as indicated by a high number of non-urgent visits, higher bed occupancy rate, and prolonged stay
Close
The active case ratio has seen an exponential rise in the last three weeks to reach 3% of the total cases after falling to 1% in mid-February. (HT File Photo)
The active case ratio has seen an exponential rise in the last three weeks to reach 3% of the total cases after falling to 1% in mid-February. (HT File Photo)

Chandigarh’s daily Covid count crosses 100 after 3 months

By Amanjeet Singh Salyal, Chandigarh
PUBLISHED ON MAR 07, 2021 12:31 AM IST
Amid the surge, the Centre has told the local authorities to increase the proportion of RT-PCR tests, expand the vaccination drive and take samples from the community to check for mutations in the virus
Close
PU is yet to take a call on reopening the varsity for students. Students have submitted a memorandum stating that online teaching is ineffective. (HT FILE PHOTO)
PU is yet to take a call on reopening the varsity for students. Students have submitted a memorandum stating that online teaching is ineffective. (HT FILE PHOTO)

Reopen hostels for more PhD scholars: Panjab University panel

By Dar Ovais, Chandigarh
PUBLISHED ON MAR 07, 2021 12:28 AM IST
The varsity has already allowed research scholars enrolled before lockdown to avail hostel accommodation on campus
Close
The Union health ministry noted that Punjab along with four other states accounted for 82 per cent of the new Covid-19 cases reported in India.(HT Photo)
The Union health ministry noted that Punjab along with four other states accounted for 82 per cent of the new Covid-19 cases reported in India.(HT Photo)

Punjab reports over 1,000 daily new Covid-19 cases for second time in March

By hindustantimes.com | Written by Srivatsan K C, New Delhi
PUBLISHED ON MAR 06, 2021 09:38 PM IST
The bulletin showed that the active caseload too witnessed a spike on Saturday with 7,164 patients—up from 6,661 reported on Friday.
Close
Police recording the statement of mother of the slain children at civil hospital in Ludhiana on Saturday. (Photo by Gurpreet Singh/Hindustan Times) (Gurpreet Singh/HT)
Police recording the statement of mother of the slain children at civil hospital in Ludhiana on Saturday. (Photo by Gurpreet Singh/Hindustan Times) (Gurpreet Singh/HT)

Migrant worker kills two sons of his neighbour in Ludhiana, hangs self

PUBLISHED ON MAR 06, 2021 07:22 PM IST
The accused, identified as Shailendra Kumar of Bihar, was allegedly trying to allure the mother of the children to have a relationship with him
Close
A traffic policeman ensuring a youngster masks up as the district administrations have directed strict compliance of the Covid-19 safety protocol. (HT Photo)
A traffic policeman ensuring a youngster masks up as the district administrations have directed strict compliance of the Covid-19 safety protocol. (HT Photo)

Night curfew in Jalandhar, SBS Nagar, Kapurthala, Hoshiarpur to check Covid-19 spread

By Gagandeep Jassowal
UPDATED ON MAR 06, 2021 06:48 PM IST
Curfew imposed in four districts of Punjab’s NRI belt of Doaba from 11pm to 5am; relaxation for night shift factory workers, medical emergency cases and traffic on highways
Close
Citing the high positivity rate in Ludhiana and Jalandhar, Punjab chief minister Capt Amarinder Singh directed the health department to step up surveillance and testing in these districts to contain further spread of the pandemic.(Bharat Bhushan/HT file photo)
Citing the high positivity rate in Ludhiana and Jalandhar, Punjab chief minister Capt Amarinder Singh directed the health department to step up surveillance and testing in these districts to contain further spread of the pandemic.(Bharat Bhushan/HT file photo)

Punjab’s Jalandhar, Shaheed Bhagat Singh Nagar impose night curfew

By hindustantimes.com | Written by Kanishka Sarkar, Hindustan Times, New Delhi
UPDATED ON MAR 06, 2021 05:36 PM IST
As Punjab is witnessing a fresh spike, the central government has sent a high-level team to the state to assist the state health department in Covid-19 surveillance, control and containment measures.
Close
Announcing a <span class='webrupee'>₹</span>9,405-crore outlay for development works, Himachal Pradesh chief minister Jai Ram Thakur said that the state planning department will be known as Niti Vibhag. (HT Photo)
Announcing a 9,405-crore outlay for development works, Himachal Pradesh chief minister Jai Ram Thakur said that the state planning department will be known as Niti Vibhag. (HT Photo)

Thakur presents Himachal budget, aims to revive Covid-hit economy

PUBLISHED ON MAR 06, 2021 01:20 PM IST
According to estimates, the state’s economy will register a negative growth of -6.2% in 2021-22, which is 1.5% better than the national average
Close
Police carrying out probe in the forest area from where the victim’s body was recovered on Saturday morning. (Ravi Kumar/HT)
Police carrying out probe in the forest area from where the victim’s body was recovered on Saturday morning. (Ravi Kumar/HT)

Six-year-old missing girl found dead in Chandigarh

By HT Correspondent, Chandigarh
UPDATED ON MAR 07, 2021 12:34 AM IST
Twelve-year-old neighbour apprehended; he is suspected to have sexually assaulted her before bludgeoning her to death
Close
Tibetan spiritual leader the Dalai Lama being given the first shot of the Covid-19 vaccine at Zonal Hospital, Dharamshala, on Saturday morning. (HT Photo)
Tibetan spiritual leader the Dalai Lama being given the first shot of the Covid-19 vaccine at Zonal Hospital, Dharamshala, on Saturday morning. (HT Photo)

Dalai Lama turns down offer to get vaccine jab at home, goes to dispensary

By Naresh K Thakur, Hindustan Times, Dharamshala
UPDATED ON MAR 06, 2021 04:22 PM IST
Tibetan spiritual leader the Dalai Lama stepped out of his home after a year on Saturday to get first dose of the Covid-19 vaccine
Close
SHARE
Story Saved
OPEN APP