Himachal banks disburse Rs 2,019 cr

The banking sector in Himachal Pradesh through a network of 1174 branches disbursed loans amounting Rs 2,019 crore till December 2004, against the annual target of Rs 1,777 for the same, Chairman-cum-Managing Director of United Commercial Bank V Shridhar yesterday said.

Presiding over the Himachal state level banker's committee meeting, Sridhar said the banks aimed at a credit flow of Rs 3,000 crore in 2006-07.

Sridhar, who is also the convenor of the committee said the banks provided Rs 510 crore credit to the agriculture sector during the first eleven months, against a target of Rs 500 crore.

Total deposits and advances of the banks in the state stood at Rs 15,304 crore and Rs 6,055 crore respectively.

The banks, with a wide network of 1023 branches in the rural areas, provided 63.29 per cent of their credit to the priority sector, 22.43 per cent to the weaker sections and 5.68 per cent to women entrepreneurs, he said.

Sridhar said the banks issued 1,63,372 Kisan pass credit cards and provided Rs 2777.44 credit to farmers through these cards till December 2004.

He said the formation of self-help-groups had been a big success, with 18,942 out of the total 23,035 availing bank credit.