Maharashtra emerges top in bank deposits

Accounts for 21% of aggregate deposits in the country

Maharashtra's scheduled commercial banks posted a 20 per cent rise in aggregate deposits in 2003-2004 (up to December 2003) to Rs 2, 91, 674 crore (compared with the corresponding period in the previous fiscal).

This also represents 21 per cent of the aggregate deposits in the country, thus making it the number one state despite accounting for only 9.5 per cent of the total banking offices in the country.

Similarly according to the economic survey of Maharashtra (2003-2004,) gross credits increased by five per cent from the previous fiscal and stood at 29 per cent on the national banking figures at Rs 2, 34, 432 crore.

The number of branches of scheduled commercial banks in the state (as of 31 December 2003) stood at 6,337, that comprises 9.5 per cent of the 66, 857 scheduled commercial banking offices in the country.

Maharashtra saw a marginal 0.5 per cent increase in the number of such offices.

Of these state banking offices, 36 per cent was in rural areas, 17 per cent in semi-urban areas (where the population is 10,000 and above but below one lakh people) and 47 per cent in urban areas.

Greater Mumbai alone accounts for 49 per cent of the total banking offices in urban regions of Maharashtra.

Mumbai, similarly, accounts for 23.3 per cent branches of all scheduled commercial banks in the state and its share in total deposits and credits is as high as 77 per cent and 85 per cent, respectively.

Outstanding credit of these banks in the state as on March 31, 2002, stood at Rs 1, 72, 535 crore, which is higher by 19.8 per cent than the previous fiscal.

Maharashtra's share in the total outstanding credit at theall Indian level was pegged at 26 per cent, which was the highest among all states of the Indian Union.

Of their total credits of scheduled commercial banks in the state by the end of March 31, 2002, manufacturing sector accounted for 38.2 per cent followed by trade at 19.9 per cent.

The agriculture and allied activities accounted for only 3.8 per cent.

The manufacturing sector also accounts for artisans, village industries and other small scale industries that accounted for 4.1 per cent of the total credits.