Haryana rural banks put up good show

Commercial banks and regional rural banks in Haryana did better in December 2005 than in December 2004 on certain key parameters.

The banks witnessed significant growth in deposits, advances and priority sector advances, opening branches, and exceeded the prescribed national goals under specific areas.

The total deposits of the banks in the state increased from Rs 31,578 crore in December 2004 to Rs 40,063 crore in December 2005, registering a growth of 26.9 per cent.

Similarly, advances also increased by Rs 6,455 crore in December 2004 from Rs 18,090 crore to Rs 24,545 crore in December 2005 "" a growth of 35.7 per cent. Around 47 commercial banks and regional rural banks branches were opened in the state during the period, raising the total number of branches in the state from 1,625 to 1,672.

B P Chopra, general manager, northern zone, Punjab National Bank and convener of Haryana State Level Bankers' Committee, said, "A study on agriculture credit indicates that only about one third of the farming community has access to institutional credit while the rest borrow from the non-institutional sources at a higher rate of interest. The banks need to further popularise Kissan Credit Card scheme so that no eligible farmer is left without the card."