Mangalore : J S Shenoy, the Deputy General Manger of Syndicate Bank, the lead bank of the district, stated that growth in deposit of rural branches was nearly 41% surpassing that of branches in urban areas which registered growth of 28%.

He was speaking at the meeting of Banking Business in Dakshina Kannada held at ZP Auditorium on Nov 9, Friday. He said that the Banking Business in DK surpasses Rs 34600 crore.

Analyzing the market share, he observed that market share of rural branches in business volume has increased while that of urban and semi urban branches have decreased. Complimenting rural branches for the impressive performance, he said that credit off take needs improvement in the district to achieve sustained CD ratio of at least 60 %.

Shenoy observed that market share of Dakshina Kannada in banking business of Karnataka had increased from 4.45% in June 2011 to 4.93 in June 2012. Further, he stated that deposit growth of private sector banks was 79% and that of Karnataka Vikas Grameena Bank, the lone RRB of the district was 74% though operating from a small base, this achievement is noteworthy and public sector banks better take note of this, he added.

Hemantha Bhide, the lead district chief manager stated that in the implementation of District Credit Plan, disbursement of Rs 1053 crore has taken place against the first quarter target of Rs 1225 crore. Under farm sector disbursement was Rs 406 crore against the target of Rs 489 crore and under Micro and Small Enterprises, the disbursement was Rs 95 crore against the target of ERs 99 crore.

ZP CEO Dr K N Vijayaprakash chaired the meeting and honoured three entrepreneurs namely Mumtaz Hussain of Kepu, Shiva Kumar Pailoor of Ajjibettu and Keshava Gowda of Bajathur for setting up three medium sized units for goat farming.

Project director of District Urban Development Centre Takat Rao, Vijaykumar, Prasad Rao, AGM, Nabard, Seethamma and others were present at the meeting.