IOB maintains pace on priority sector lending
Thiruvananthapuram: Indian Overseas Bank, the lead bank for Thiruvananthapuram district, has decided to enhance lending to the priority sector, especially by financing self-help groups and issuing Kisan Credit Cards (KCCs). The bank said that as much as 45 per cent of the bank's advance portfolio was directed to the priority sector, while lending to direct agriculture amounted to more than the prescribed 18 per cent, and that these percentages have been maintained for the last three years. During the last two years, the bank has assisted 32000 SHGs all over the country.
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Prudential Co-op Bank depositors to go on hunger strike
Hyderabad: Depositors of the beleaguered Prudential Co-Op Bank have now decided to go on a hunger strike to seek revival of the bank and the payment of their dues including interest on deposits. According to the President of the Depositors Association, K. Srinivasulu, deposits have not been handed over to the depositors for more than 12 months. About 2.8 lakh depositors have their money locked up in the bank. After the co-operative bank closed operations, the management had stepped up efforts to recover their loans, particularly from corporate defaulters. According to the management this has yielded results and recoveries have crossed more than Rs 100 crore.
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