Thiruvananthapuram: Digitalizing work in Kerala Bank will be completed in three months.
After that, Kerala Bank will be able to offer all services offered by new generation banks to their customers.
Kerala Bank has distributed Agri loans worth Rs 2,648 Crore from April to August.
The bank also recorded an increase in Rs 5,658 Crore in a cash deposit during that period.
Bank performance was reviewed at a meeting chaired by the Minister of Cooperation VN Vasavan on Wednesday.
There was a decrease in Rs 387.95 Crore in its non-performance assets.
The NPA Bank reached 14.7% of the total disbursed loans, said an official statement from the minister’s office.
The bank, during the last quarter, did business worth Rs 1,06,397 Crore.
Bank revenues increased to Rs 61.96 Crore during the period.
Until March 31, 2021, Kerala Bank provided loans to Rs 5,295 Crore songs.
This shows an annual increase in Rs 507 Crore.
Agri loans that have previously been offered with a 7% interest rate are now given at 6%.
Even during a pandemic, Kerala Bank gave a sanction of RS 2,000 Crore to primary cooperative communities as liquidity funds.
The review meeting also decided to provide loans, up to RS 60 lakh, in the food processing industry with a lower interest rate.
Subsidies up to 35% or 10 lakh Hospital will be given to the loan.
The bank has provided low flowering loans to Gulf-Retweak, farmers, medium / small scale industrial units.
The bank also decided to launch an interesting new deposit scheme that would be useful for community cross sections.
Kerala Bank quickly completed facilities and settings forced by RBI.