Bank deposits increase by Rs 24,102cr in quarter

Hyderabad: Total deposits in banks increased by Rs24,102 crore in the quarter, taking the total deposits to Rs7,07,108 crore, SBI’s chief general manager stated in the State Level Bankers’ Committee (SLBC) meeting on Monday for a review of the quarter ended June 2023.

Rajesh Kumar, the chief general manager of SBI, said: "The total advances with banks grew by Rs16,655 crore and the advances of all banks were at Rs830,551 crores. CD ratio continues to be above 100 per cent, at 117.46 per cent. 

During the first quarter of the current financial year, banks have disbursed short-term production loans amounting to Rs11,929 crore, achieving 27 per cent of the annual target."

Further, banks disbursed Rs17,315 crore in investment credit



to agriculture and allied sectors, while ancillary activities achieved 35 per cent of the target. Education and housing loans amounting to Rs70 crore and Rs882 crore, respectively, were disbursed in the quarter, while Rs44,068 crore was disbursed to MSMEs, achieving 81 per cent of the target.

"Under Pradhan Mantri Mudra Yojana Scheme, banks sanctioned Rs1,662 crore, achieving 16.48 per cent of the annual target. Banks, together, have disbursed Rs75,040 crore to various sections of borrowers under the priority sector, fulfilling 48.12 per cent of annual targets," Rajesh Kumar said.

Under three tranches of the PM SVAnidhi, banks sanctioned 5,26,780 applications and disbursed loans to 5,22,946 street vendors.