While the aggregate deposits of the banks in Gujarat rose by 16.48 at the end of financial year 2012-13, the advances grew by 22.65 per cent from last year, revealed report of the 137th meeting of State Level Bankers' Committee (SLBC) held in Ahmedabad on Tuesday.
Though the growth in deposits remained flat compared to fiscal 2011-12 when it was 16.61 per cent, the state witnessed surge in NRI deposits which grew by 30.31 per cent as against 10 per cent in the previous year. Growth in advances too was negligible from 20.74 per cent in 2011-12 to 22.65 per cent at end of March 2013.
Dena Bank, the convenor for SLBC-Gujarat, hosted the meeting with bankers and state government representatives where it said that the credit deposit ration (CDR) for the state was up 3.79 points from 71.47 at end of March 2012 to 75.26 at end of March 2013.
During 2012-13 the credit advances increased by Rs 51,361 crore in absolute terms from Rs 226,760 crore in FY 2012 to Rs 278,121 crore in FY 2013, registering a growth of 22.65 per cent. Agriculture advances in Gujarat rose by 19.21 per cent in the financial year 2011-12 to Rs 43,057 crore from Rs 36,120 crore during 2011-12. Advances in the Medium and Small Enterprise (MSE) sector grew to Rs 45,164 crore from Rs 32,843 last year, a growth of 37.51 per cent. Bank advances to weaker sections of the society also increased by 19.52 per cent from Rs 14,389 crore in 2011-12 to Rs 17,198 crore as of March 2013.
Advances to the priority sector witnessed a growth of 25.98 per cent (year-on-year) from Rs 87,108 crore for the year ending March, 2012 to Rs 109,738 crore for 2012-13.
Dena Bank chairman and managing director Ashwani Kumar said that the overall achievement in disbursement under Service Area Credit Plan (SACP) by all the bansk was 93.82 for the year ended March 2013 as against 93.26 per cent achievement in 2011-12. The highest percentage of achievement was recored in MSE sector with 143.11 per cent followed by services with 87.73 per cent and 85.69 per cent in agriculture.
Kumar further said that the SACP target for the year 2013-14 has been increased by 24 per cent to Rs 61,648 crore.
Though the growth in deposits remained flat compared to fiscal 2011-12 when it was 16.61 per cent, the state witnessed surge in NRI deposits which grew by 30.31 per cent as against 10 per cent in the previous year. Growth in advances too was negligible from 20.74 per cent in 2011-12 to 22.65 per cent at end of March 2013.
Dena Bank, the convenor for SLBC-Gujarat, hosted the meeting with bankers and state government representatives where it said that the credit deposit ration (CDR) for the state was up 3.79 points from 71.47 at end of March 2012 to 75.26 at end of March 2013.
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According to the SLBC report, aggregated bank deposits in Gujarat increased by Rs 52,283 crore in absolute terms from Rs 317,264 crore in 2011-12 to Rs 369,547 crore in fiscal 2012-13. The NRI deposits stood at Rs 33,114 crore for FY13 as against Rs 25,400 crore last year, an increase of 30.31 per cent.
During 2012-13 the credit advances increased by Rs 51,361 crore in absolute terms from Rs 226,760 crore in FY 2012 to Rs 278,121 crore in FY 2013, registering a growth of 22.65 per cent. Agriculture advances in Gujarat rose by 19.21 per cent in the financial year 2011-12 to Rs 43,057 crore from Rs 36,120 crore during 2011-12. Advances in the Medium and Small Enterprise (MSE) sector grew to Rs 45,164 crore from Rs 32,843 last year, a growth of 37.51 per cent. Bank advances to weaker sections of the society also increased by 19.52 per cent from Rs 14,389 crore in 2011-12 to Rs 17,198 crore as of March 2013.
Advances to the priority sector witnessed a growth of 25.98 per cent (year-on-year) from Rs 87,108 crore for the year ending March, 2012 to Rs 109,738 crore for 2012-13.
Dena Bank chairman and managing director Ashwani Kumar said that the overall achievement in disbursement under Service Area Credit Plan (SACP) by all the bansk was 93.82 for the year ended March 2013 as against 93.26 per cent achievement in 2011-12. The highest percentage of achievement was recored in MSE sector with 143.11 per cent followed by services with 87.73 per cent and 85.69 per cent in agriculture.
Kumar further said that the SACP target for the year 2013-14 has been increased by 24 per cent to Rs 61,648 crore.