Bank achieve 80% annual crop loan target in first half of FY24

Telangana banks disbursed ₹35,023 crore crop loan in first 6 months of fiscal, achieving 79.48% of annual target.

Banks in Telangana disbursed ₹35,023 crore crop loan in the first six months of the fiscal, up to September, achieving 79.48% of the annual target, according to the State Level Bankers’ Committee (SLBC).

Presenting a report on performance of the banks, during the first half of 2023-24, at the SLBC meeting here on Friday, SBI Chief General Manager Rajesh Kumar said ₹26,730 crore investment credit was disbursed by the banks to allied agriculture activities and thus meeting 67.97% of the targets.

The disbursements to micro, small and medium enterprises (MSME) segment stood at ₹67,723 crore, which was 124% of the target. Under Pradhan Mantri Mudra Yojana Scheme, banks sanctioned ₹4,485 crore and achieved 42% of the annual targets.

Disbursements to various sections of borrowers under Priority Sector totalled ₹133,819.21 crore until September. This was 72.21% of the annual target.

Total deposits of the banks increased by ₹52,153 crore in the six months taking the total deposits to ₹735,159.54 crore. Total advances increased by ₹99,283 crore. The advances of all banks were at ₹913,179.97 crore, Mr. Rajesh Kumar said. The CD ratio is at 124.22%.

Finance Secretary TK Sreedevi, RBI Regional Director K. Nikhila, NABARD CGM Ch Suseela and SBI General Managers PK Bansal and Debashish Mitra, who is also SLBC Telangana Convenor, spoke.