NRI deposits in Kerala banks surge

Thiruvananthapuram, Dec 18 (IANS) There has been a surge in non-resident Indian (NRI) deposits in Kerala banks which have touched Rs.121,619 crore in September 2015, up from Rs.80,809 crore as on September 2013, according to banking stattistics.

These figures were revealed at the 117th meeting of the State Level Bankers Committee held here on Friday.

The total deposits of the commercial banks in Kerala as of September touched Rs.338,902 crore, up from Rs.252,338 crore in September 2013, while total advances during the same period went up to Rs.222,791 crore, up from Rs.181,166 crore in September 2013.

The statistics also pointed out that in the first six months of the current fiscal, commercial banks in the state have disbursed Rs.38,816 crore in the priority sector, which is 37 percent of the total disbursement target of Rs.104,937 crore for priority sector for 2015-2016.

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