SBI Vijayawada lends Rs 427.75cr agri loans

The Vijayawada division of State Bank of India, with 187 branches covering Krishna, Guntur and West Godavari districts, has advanced agricultural loans to the tune of Rs 427.75 crore to 1,34,395 farmers during the first half of 2005-06.

N V Suryanarayana Rao, bank's deputy general manager (DGM), told Business Standard that these loans included Rs 187.76 crore to 51,800 farmers under Kisan Credit Cards, Rs 31.51 crore to 6,220 self-help groups (highest in the country), Rs 45.71 crore to 2,174 farmers under Kisan Gold Cards, Rs 12.35 crore tractor loans to 450, Rs 4.72 crore to 1,773 under Dairy Plus, Rs 1.82 crore micro irrigation loans to 322 farmers, Rs 3.38 crore to 302 Rythu Mithra groups and Rs 24.72 crore to 6,177 farmers under contract farming. The bank's score in farm loans crossed 33 per cent of the total loans as against the Reserve Bank of India's stipulation of 18 per cent.

He said Rs 48 crore had also been given as crop loans to 62,000 new farmers. Under Rice Plus scheme, Rs 19 crore had been advanced to 23 rice millers and mortgage loans given to 400 beneficiaries. Under tie-up loans, Rs 30 crore was disbursed to sugarcane farmers and Rs 39 crore to tobacco farmers (6 per cent interest) for purchase of seeds and inputs.

Crop loans totalling Rs 108.15 crore had been converted into term loans, benefiting 41,371 farmers in drought-hit areas.

The bank, he said, last year opened 10,000 zero balance accounts, which Finance Minister Chidambaram recently made it mandatory for bankers. Mortgage loans were simplified, totally eliminating the problem of bureaucratic hassles in respect of collaterals.

Rao said the SBI division had mobilised deposits worth Rs 1,936.76 during its first 22 years of operation in the three districts after its formation (Rs 100 crore a year on an average).

However, from May 31, 2003, till October 31, 2005, it collected deposits to the tune of Rs 641.03 crore (33 per cent increase), putting the total deposits at Rs 2,577.79 crore.

The increases in deposits included Rs 170.07 crore under commercial and industrial (C&I), Rs 11.42 crore under small industries banking (SIB), Rs 12.39 crore under agriculture, and Rs 447 crore under personal category. During the same period, the bank's net profit went up by 127.6 per cent from Rs. 48.70 crore to Rs. 110.85 crore.

Advances, he said, were up by 119.75 per cent. While advances for the first 22 years stood at Rs 1,504.86 crore, it cumulated to Rs 1,801 crore during the last 39 months, putting the total advances at Rs 3,306 core.

The advances included Rs 243.20 crore under C&I, Rs 216 crore under small banking, Rs 73.47 crore under finance, Rs 572 crore under agriculture, Rs 645.67 crore under personal and Rs 277 crore under middle corporate group (MCG).

He said the bank distributed Rs 409 crore housing loans among 13,068 beneficiaries, Rs 81 crore educational loans and Rs 63 crore loans to small industries.