Hyderabad :

Banks in Telangana have disbursed fresh crop loans worth Rs 16,997 crore clocking a growth rate of 62.29% after the government implemented the farm loan waiver scheme last year. In a meeting of State Level Bankers Committee (SLBC) on Monday, agriculture minister Pocharam Srinivas Reddy took stock of farm loan disbursement during October-December for 2014-15. SLBC officials appraised the minister on farm loan disbursements according to which banks have advanced or renewed fresh loans worth Rs 16,997 crore.

The review revealed that banks achieved 81% of the total agricultural target of Rs 27,233 crore by lending Rs 21,989 crore. While the number of branches in the state has reached 4,758, banks have collectively achieved total deposits of Rs 304,560 crore recording a growth rate of 8.71%. The annual credit plan target for the current financial year has been surpassed by banks with an achievement of 134% as on December 31, 2014.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Hyderabad / TNN / March 31st, 2015