Banks in Thiruvananthapuram district disburse Rs 11,088 cr as priority sector loans

Thiruvananthapuram, Dec 31 (KNN) Till September 30, 2022 the banks in Thiruvananthapuram district have achieved 51 per cent of the fiscal target by disbursing Rs 11,088 crore as priority sector loans.

This was informed by Indian Overseas Bank (IOB)  during a review meeting on Friday, reported The Hindu.

V.K. Prasanth, MLA, inaugurated the meeting of the district-level review committee of the District Consultative Committee for Banking Development.

Of the total disbursement, Rs 6,280 crore was for agriculture, Rs 4,191 crore for small industries, and Rs 617 crore for other priority sectors.

As on September 30 of this year the credit deposit ratio (CDR) of the district has risen to 74 per cent.

Total deposits in the district is Rs 1,06,563 crore and total advances, Rs 79,064 crore, registering an 18 per cent growth.

The Kerala government had achieved the target of creating one lakh MSMEs in eight months, said Prasanth stating that more loans could be offered for enterprises.  (KNN Bureau)