Hyderabad: Total deposits of the banks in the state grew by 23,312 crore during the financial year 2024-25 so far and the total deposits stood at 8,03,265 crore.
The state-level bankers’ meeting (SLBC) on Monday said that total advances with banks grew by 42,800 crore and the advances of all banks were at 10,21,858 crore. During the meeting, finance miniser and deputy chief minister Bhatti Vikramarka urged bankers to get prepared for the ambitious ‘Rising Telangana’ plans. He said permissions have been obtained for the construction of the regional ring road and tenders will be called for soon.
Bankers told the minister that credit ratio continues to be above 100% and it is maintained at 127.21% at the end of the quarter. During the first two quarters, banks disbursed short term production loans of 44,438 crore achieving 81.57% of the kharif season targets.
Banks disbursed 82,632 crore as investment credit to agriculture and ancillary activities, achieving 71.40% of the targets. Banks also disbursed education loans to the tune of 376 crore and housing loans amounting to 1,851 crore under priority Sector during the current financial year.
Under the agriculture infrastructure fund, banks sanctioned 2,864 crore as against a cumulative target of 3,200 crore so far.
During the meeting, agriculture minister Tummala Nageswara Rao emphasised the need to focus on exceeding the stipulated targets for FY 2024-25 under agriculture and allied activities.
He sought the support of bank for focusing on development of agricultural economy. He also appealed to the banks to speed up the process of timely disbursement of credit to farming community.
