Hyderabad: Banks in the state are targeting a 161% increase in credit disbursement for the current financial year 2024-25 (FY25) at around 6,33,777 crore with priority sector advances projected to rise 51% to 2,80,551 crore as against the 2,28,988 crore in financial year 2023-24 (FY24).
This was disclosed by State Bank of India chief general manager Rajesh Kumar while presenting the FY24 performance of banks in Telangana at the 41st state level bankers’ committee (SLBC) meeting and launch of the annual credit plan of banks for FY25 here on Wednesday.
In FY24, banks achieved nearly 124% of their priority sector lending targets, he said. While disbursals under the agricultural sector are projected to go up nearly 19% in FY25 at 1,34,138 crore, that to micro, small and medium enterprises is projected to go up 137% to around 1,29,636 crore.
Apart from this, 10,769 crore has been allocated for the housing sector, 2,707 crore for education loans and 3,302 crore for other sectors.
Giving the report card for FY24, he said total deposits grew 96,547 crore to 7,79,953 crore and total advances grew 1,65,162 crore to around 9,79,059 crore.
He said the cash deposit (CD) ratio, which is the ratio of banks’ lendings out of the total deposits mopped up, remained over 100% at Rs nearly 126% from 119% in FY23.
During the last fiscal, banks disbursed 1,07,483 crore to the MSME sector, achieving 197% of the targets and sanctioned 10,905 crore under the Pradhan Mantri Mudra Yojana.
Hyderabad: Banks in the state are targeting a 161% increase in credit disbursement for the current financial year 2024-25 (FY25) at around 6,33,777 crore with priority sector advances projected to rise 51% to 2,80,551 crore as against the 2,28,988 crore in financial year 2023-24 (FY24).
This was disclosed by State Bank of India chief general manager Rajesh Kumar while presenting the FY24 performance of banks in Telangana at the 41st state level bankers’ committee (SLBC) meeting and launch of the annual credit plan of banks for FY25 here on Wednesday.
In FY24, banks achieved nearly 124% of their priority sector lending targets, he said. While disbursals under the agricultural sector are projected to go up nearly 19% in FY25 at 1,34,138 crore, that to micro, small and medium enterprises is projected to go up 137% to around 1,29,636 crore.
Apart from this, 10,769 crore has been allocated for the housing sector, 2,707 crore for education loans and 3,302 crore for other sectors.
Giving the report card for FY24, he said total deposits grew 96,547 crore to 7,79,953 crore and total advances grew 1,65,162 crore to around 9,79,059 crore.
He said the cash deposit (CD) ratio, which is the ratio of banks’ lendings out of the total deposits mopped up, remained over 100% at Rs nearly 126% from 119% in FY23.
During the last fiscal, banks disbursed 1,07,483 crore to the MSME sector, achieving 197% of the targets and sanctioned 10,905 crore under the Pradhan Mantri Mudra Yojana.
