Survey: PSU banks grew 19% in PS loans
The flow of agricultural credit headed north, with close to 12.5 million new farmers brought under the banking system. As of today, save 2 per cent, the rest of the Public Sector Bank branches stand fully computerized.
The Self Help Group- bank linkage programme has emerged as the major micro finance programme in the country. These are some of the highlights of the Economic Survey 2011-12 presented by Finance Minister Pranab Mukherjee in Lok Sabha today.
Capital is a key measure of bank’s capacity for generating loan assets and is essential for balance sheet expansion. The Economic Survey says Rs 12,000 crore has been provided in the Revised Estimates 2011-12, under Plan, for capital infusion in Public Sector Banks (PSBs) to enable them to maintain a minimum Tier 1 CRAR at 8 per cent on 31st March 2012, and also to increase shareholding of the Government of India in the PSBs to 58 per cent.
During Financial Year 2011-12 growth in bank credit extended by Scheduled Commercial Banks (SCBs) stood at 8.2 per cent as on 16 December 2011, with year-on-year growth at 17.1 per cent.
The outstanding priority sector advances of PSBs rose by almost 19 per cent between March 2010 to March 2011. The increase was from Rs 8,63,777 crore
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