The 131st meeting of State Level Bankers' Committee was held today under the chairmanship of K Subbaraman, Executive Director, Central Bank of India at the Zonal Office of Central Bank of India, Bhopal. The meeting was conducted by PC Tiwari, Zonal Manager and convenor of the Committee and reviewed the progress recorded by banking sector in the State up to December 2007. In his key note address, Subbaraman briefly recalled the salient features of Central and State government budgets. Subbaraman referred to the Debt Waiver and Debt Relief Schemes announced in the Union budget and hoped that the scheme would help in reviving growth in the agriculture sector as farmers will have access to fresh loans from banks. Other initiatives in the area of financial inclusion, irrigation and a favourable duty and tax regime will also help in accelerating economic growth. Referring to the budget proposals of the state government Subbaraman stated that farmers' interests have been given the required attention in the budget. Payment of bonus on wheat procurement for PDS and reduction of interest rates on agriculture loans will directly benefit the farmers. He also welcomed the move to create a special fund for providing guarantee for professional/higher education loans from banks to meritorious students. Referring to the performance of banking sector during the third quarter, Subbaraman informed that 54 new bank branches have been added in the State in the current financial year. The aggregate deposits of the banks grew by Rs 8867 crore and stood at Rs 82096 crore at a growth rate of 12.11 per cent and total advances during the same period grew by 13.35 per cent and touched Rs 55664 crore of which priority sector had a share of 63 per cent and agriculture advances formed 37 per cent of the total credit. The State had a healthy index under both Priority Sector advances as well as Agriculture Advances in comparison to the national norms. The C:D Ratio of 68 per cent is also above the national norm of 60 per cent. Earlier, PC Tiwari welcomed the participants and stated that banks are making concerted efforts with other agencies in improving the socio-economic conditions of the people in the State. He assured that Banks shall extend full support in realising the goal of making the State a Global Destination and a flourishing State economy. The House also reviewed the performance under ongoing programmes like financial inclusion, 100 per cent coverage of eligible farmers under Kisan Credit Card Scheme, doubling the flow of credit to Agriculture and SME Sectors, KVIC Margin Money Scheme, implementation of Annual Credit Plan, other government sponsored schemes like PMRY, SGSY, SJSRY, SLRS, formation of SHGs and Low C:D Ratio in certain districts, etc. The comparatively high level of non-performing assets in government sponsored schemes like PMRY, SGSY, SJSRY etc. was also discussed and State Government urged to extend necessary assistance to Banks in this regard. Senior Officials from the State government, Reserve Bank of India, NABARD, other commercial banks and financial institutions were present at the meeting.