RRB does Rs 900 cr business

Marwar Gramin Bank, one of the major RRB working in the southwestern region of Rajasthan, has achieved a total business worth Rs 900 crore for the fiscal ended March 31, 2005.

The bank has achieved a growth rate of 14 per cent during the current fiscal. The bank, which had wiped out its accumulated losses during 2003-04, has recorded a net profit of Rs 3.61 crore for the current fiscal.

The bank's Chairman MD Balani said deposits increased by Rs 65.92 crore to reach the target of Rs 633.37 crore at the end of fiscal 2004-05, compared with Rs 594.20 crore in the last fiscal. Advances stood at Rs 263.70 crore, against Rs.197.99 crore during the last fiscal.

The bank has also increased the level of credit to Rs 263.70 crore, registering a net growth of Rs.65.92 crores during the fiscal ended March 31, 2004-05. The credit deposit ratio has gone up from 33.29 per cent to 41.16 per cent.

Out of the total advaces of Rs 263.70 crore ,share of priority sector, SC/ST and minority section stands at 227.79, 35.20 and 7.55 crore respectively. The women's share stands at 24.01 crore, which is 10 per cent approximate of total advances.

As compared to Rs.85.66 crores of disbursement during previous year i.e.2003-04, bank disbursed 147.52 crore during the year, registered a historic growth of 172 per cent.

The bank's chairman said that in compliance with the Union finance minister's directives to double the flow of agriculture credit within three year, the bank has achieved the same within a year.

The credit out flow in agriculture sector during the year is Rs 118.05 crore, against out flow of Rs.52.68 crore made during last year.

Under the Kisan Credit Card scheme, the bank disbursed 71.11 crore among 7014 farmers against the target of 5000 farmers. Micro finance through self help group (SHG) was identified as niche area for current fiscal.

Accordingly 690 Self Help Groups were linked during the year showing a growth of 330 per cent over last years performance under SHG.

The Bank has carved out a unique scheme to protect forestry and also pollution against nature in which 2511 rural households were provided finance to the tune of Rs. 106.65 lacs for getting LPG connections.

Gross NPA of the Bank stands at 4.39% of gross advances as at the end of current fiscal against 6.13% as at the end of previous year. Likewise net NPA's have also comedown to 3.17% as against 5.28% of last year.

The Bank has computerized the working of its head office and area offices. The branch computerization work has taken of smoothly by successfully computerizing its pilot branch.

During current fiscal viz.2005-06 Bank plan to computerize its 50% of 135 branches, and have targeted for a growth of 35% in its loan portfolio and also in profits.''