466 new bank branches opened in Madhya Pradesh in one year
BHOPAL: As many as 466 new bank branches - 182 in
rural, 136 in semi-urban and 148 in urban areas - have been opened in Madhya
Pradesh till March 2014. The state has total 6415 bank branches, of these, 4102
are commercial banks, 1121 cooperative banks and 1192 branches of regional
State’s bank branches have total deposits of Rs 2,49,525
crore as on March 2014, which is Rs 28,836 crore more than that of in March
2013. It shows economic progress and increasing prosperity of the state,
suggesting increased circulation of domestic savings in fiscal market through
Credit deposit ratio in Madhya Pradesh is 66 percent
as on March 2014, which is higher than the national norm of 60 percent.
Similarly, advances in priority sectors in the state are 59 percent as compared
to national norm of 40 percent.
In total advances, agriculture advances in the state
are 34 percent as compared to national norm of 18 percent. Total advances given
to the weaker sections in the state were 13 percent against 10 percent national
Till March 2014, total Rs 1,64,877 crore advances were
given in the state including Rs 55,681 crore in agriculture sector, Rs 22,937
crore to small industries and Rs 21,271 crore to weaker sections.
Work on financial inclusion is in progress at a rapid
pace to make available maximum banking facilities in rural areas of the state.
Financial inclusion activities have been started in 2736 identified villages
having over 2 thousand population. Madhya Pradesh has been conferred
prestigious Skoch Financial Inclusion and Deepening Award 2014 for better
performance in financial inclusion sector.
Ultra small banks are being opened in every 5 kilometre
radius in rural area with a view to extending maximum financial inclusion
benefits to rural people. These banks have transacted over Rs 1500 crore