Berhampur: There are 20 nationalised banks operating in Ganjam district and they have around 262 branches. But the banks are aggressive only in collecting deposits and not in advancing loans.
The nationalised banks collected around Rs 14,579 crore as deposits during fiscal 2018-19. But they advanced loans of only around Rs 4,640 crore.
As per norms, banks are supposed to extend loans of at least 60 per cent of their deposits. However, the amount of loans advanced by the nationalised banks is just 32 per cent of the collected deposits.
Despite the importance of extending adequate loans to farmers the nationalised banks gave only around Rs 370 crore as loans to 69,987 farmers of the district.
The statistics came out at the district-level advisory and review meeting of banks held Monday. Presiding over the meeting Ganjam Collector Vijay Amruta Kulange expressed dissatisfaction at this.