Haryana achieves complete financial inclusion by banks

Chandigarh, May 28 | Updated: May 29 2007, 05:38am hrs
Haryana has achieved complete financial inclusion for the districts of Yamunanagar and Bhiwani. Not only this, five more districts have been identified for 100% financial inclusion by banks, these are-Panchkula, Jind, Rohtak, Narnaul and Fatehabad.

At the 100 th meeting of State Level Bankers' Committee( SLBC), Haryana, held in Chandigarh, SC Gupta, chairman & MD, Punjab National Bank, held that banks in the region should now focus more on promoting agri-clinics, venture capital projects in agri sector, Kisan Credit Cards and farmer's clubs.An independent website has also been launched for Haryana SLBC.

Reviewing the performance of the banks in Haryana, he revealed that at the end of March 2007, total deposits with banks stood at Rs 59,403 crore, a 27.5% increase over previous year, total banking sector advances stood at Rs 37,254 crore, an increase of 24.6%. The primary sector advances grew by 19.8% and stood at Rs 22,350 crore in March 2007 out of which agriculture advances were Rs 11,115 crore and small scale industries advances were Rs 4,752 crore. The number of bank branches in the region grew by 6.6% to 1,816 in March 2007. Advances to weaker sector increased by 25.1% to Rs 3,309 crore as on March 2007.

"The performance of the banking sector remained quite satisfactory on the priority sector advances, where the achievement was 60% compared to a national goal of 40%.

Incase of agriculture advances, the achievement was 30% which was also well above the national goal of 18%," said Gupta. Overall CDR in respect of commercial banks, regional rural banks and cooperative banks was 74% as on March 2007 well above national average of 60%.

He also informed that pursuing the policies of the government, it was decided that credit disbursement to the agriculture sector would be doubled in three years by March 2007, the banks in Haryana have surpassed the doubling by scaling 209% in three years by end March 2007