Bhopal (Madhya Pradesh): Chief Minister Shivraj Singh Chouhan has said that bankers should make every effort to increase Credit Deposit Ratio (CDR) in the state. More attention should be paid to loan sanction by expanding the branches of banks in tribal dominated districts.
Chouhan was presiding over the 182nd meeting of the State Level Bankers Committee (SLBC) at his residential office on Tuesday. Finance Minister Jagdish Devda, Chief Secretary Iqbal Singh Bains, senior officials and bankers were present. Chouhan released the booklet of Annual Credit Plan 2022-23 at the meeting.
The distribution of approved cases under Prime Minister's Swa-Nidhi Yojana should be completed on time, Chouhan said. He expressed displeasure over the low targets achieved by HDFC Bank and slow progress under National Rural Livelihoods Mission scheme. The Chief Minister expressed satisfaction over the progress of Pradhan Mantri Mudra Yojana.
Banks fair poor
CM Chouhan expressed displeasure over poor response by banks on Mukhyamantri Udyami Kranti Yojna. For the financial year 2021-22, a target of 5,000 cases was given. However, only 4,296 cases were submitted in the banks. Of them, 1725 cases were sanctioned but loans were disbursed in 838 cases only. An amount of Rs 51 crores was disbursed.
Similarly, for the financial year 2022-23, the progress report as on 17 May 2022, shows that a target of 1 lakh cases but 4,837 cases have been submitted. 175 cases have been sanctioned and Rs 6 crore have been disbursed in 100 cases.
Highlights of Annual Credit Plan
HIGHLIGHTS
1. Against the target of Rs 2,12,821 crore (priority & non-priority) under Annual Credit Plan for FY 2021-22, an amount of Rs 2,70,909 crore was disbursed at the end of March 31, 2022, recording an achievement of 127%, which is more than the achievement of previous financial year, that was 72%.
2. During the year 2021-22, the Banks disbursed Rs 1, 05,256 crore to the agriculture sector against the target of Rs 1, 52,057 crore and achieved 69% of the target.
3. Under the MSME sectors, banks disbursed Rs 46,945 crores during FY 2021-22 as against the target of Rs. 35,009 crores and achieved 134% of the target, which is higher than the achievement of 105% during the previous financial year.
4. Credit offtake under education loans, housing sector was Rs 508 crore and Rs 5,772 crore and achievement index was 38% and 70% respectively
Highlights of the performance of all the Banks during FY 2021-22 are given below:
1. Total Business of the Banks increased to Rs 9,42,570 crore in March 2022 from Rs. 8,47,473 crore in previous year. On year-on-year (y-o-y) basis, bank’s business increased by 11.2% in March 2022 as compared with an increase of 12.1% in March 2021. In absolute term, total business increased by Rs 95,097 crore y-o-y in March’22.
2. Aggregate deposits increased by Rs 57,230 crore y-o-y and stood at Rs. 5,45,918 crore in March 2022.
3. Out of total deposits, share of Savings Account & Current Account was 43.1% March 31, 2022 as compared to 44.3% last year. Out of 52 districts, 50% of total deposits were concentrated in only 4 major districts i.e. Bhopal, Indore, Gwalior & Jabalpur as on March’22.
6. Agriculture credit increased by 9.0% y-o-y to Rs.1, 28,430 crore in March 2022 from Rs. 1, 17,797 crore previous year. Agriculture credit is constituting 32.38% of the total credit portfolio as on March 2022.
7. Credit to MSME sectors stood at Rs. 75,769 crore in March 2022, showing y-o-y growth of 15.3% as compared to 9.1% a year ago.
8. Credit to housing sector stood at Rs 45,882 crore in March 2022 from Rs 40,237 crore last year showing an increase of 14.0% y-o-y. Year-on-year growth in Mar’21 was 5.6%.
9. Gross NPA increased from Rs 33,739 crore in March 2021 to Rs 36, 372 crore in March 2022. However, NPA percentage reduced to 9.17% of total credit in Mar’22 from 9.40% previous year.
