Status of Micro Finance in India 2009-2010 doc

To achieve this objective, Reserve Bank of India and NABARD issued guidelines in the year 2006-07 to Commercial Banks, Regional Rural Banks and Cooperative Banks to furnish data on progr

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Status of Micro Finance in India – 2009-10 Yeejle ceW met#ce efJeÊe keÀer efmLeefle - 2009-10

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NABARD

Commited to Rural Prosperity

The Self Help Group (SHG)-Bank Linkage Programme, in the past eighteen years, has become

a well known tool for bankers, developmental agencies and even for corporate houses SHGs,

in many ways, have gone beyond the means of delivering the financial services as a channel and turned out to be focal point for purveying various services to the poor The programme, over

a period, has become the common vehicle in the development process, converging important development programmes With the small beginning as Pilot Programme launched by NABARD

by linking 255 SHGs with banks in 1992, the programme has reached to linking of 69.5 lakh saving-linked SHGs and 48.5 lakh credit-linked SHGs and thus about 9.7 crore households are covered under the programme, envisaging synthesis of formal financial system and informal sector.

In view of the large outreach and pre-dominant position of the microFinance programme, it is important to keep a continuous track of the status, progress, trends, qualitative and quantitative performance comprehensively To achieve this objective, Reserve Bank of India and NABARD issued guidelines in the year 2006-07 to Commercial Banks, Regional Rural Banks and Cooperative Banks to furnish data on progress under microFinance The data so collected covers various parameters like savings of SHGs with banks, bank loan disbursed to SHGs, bank loan outstanding against SHGs, gross non performing assets of bank loans to SHGs, recovery performance of loans to SHGs Further, the banks also furnished the data regarding bank loans provided to Micro Finance Institutions (MFIs) NABARD, has been bringing out the consolidated document annually.

This booklet presents the consolidated data obtained from the banks along with preliminary analysis of the various trends and progress under microfinance sector under the two models viz., SHG – Bank Linkage model and MFI – Bank Linkage model The data furnished by the banks have been analysed on a region-wise, state-wise, agency-wise, bank-wise and also for SHGs exclusively under Swarnajayanti Gram Swarojgar Yojana and exclusive women SHGs data in the booklet.

The trend in submitting the Management Information System by banks has shown improvement This year all 27 Public Sector Commercial Banks, 19 private sector Commercial Banks, 81 Regional Rural Banks and 318 Co-operative Banks have submitted the MIS We thank all the banks for furnishing the data and expected that in the coming years all the remaining banks will co-operate in timely and accurate submission of data to us.

The major support provided by NABARD under Micro Finance Development and Equity Fund relates to promotion and nurturing of SHGs by Self Help Promoting Institutions and training and capacity building of the stakeholders in the Sector NABARD is also experimenting innovative projects for further developing the microFinance through Joint Liability Groups The details in this regard are also included in this booklet.

We hope that all the stakeholders under microfinance sector would use the information as input and feedback relating to the sector for bringing about policy changes and improvement

in operational strategies More analysis than what is given in the book is expected from all the microfinance players NABARD would welcome suggestions and comments on this booklet for making it more informative and useful at all levels in microfinance sector.

PARtiCulARs Page No.

statement No statements

I - A Savings of SHGs with Banks – Agency-wise position as on 31 March 2010 1

I - B Bank loans disbursed to SHGs – Agency-wise loans disbursed during 2009-10 1

I - C Bank loans outstanding against SHGs – Agency-wise position as on 31 March 2010 1

I - D Non Performing Assets of Banks against SHGs – Agency-wise position as on 31 March 2010 2

I - E Agency wise Bank Loans provided to MFIs during 2009-10 and loans outstanding

II - D Non Performing Assets (NPAs) against Bank loans to SHGs – Region-wise / State-wise /

III - A (i) Savings of SHGs with Public Sector Commercial Banks as on 31 March 2010 7 III - A (ii) Savings of SHGs with Private Sector Commercial Banks as on 31 March 2010 20 III - B Savings of SHGs with Regional Rural Banks as on 31 March 2010 23 III - C Savings of SHGs with Co-operative Banks as on 31 March 2010 27

IV - A (i) Bank loans disbursed by Public Sector Commercial Banks to SHGs during 2009-10 36

IV - A (ii) Bank loans disbursed by Private Sector Commercial Banks to SHGs during 2009-10 49

IV - B Bank loans disbursed by Regional Rural Banks to SHGs during 2009-10 51

IV - C Bank loans disbursed by Co-operative Banks to SHGs during 2009-10 55

V - A (i) Bank Loans outstanding against SHGs as on 31 March 2010 – Public Sector

V - A (ii) Bank Loans outstanding against SHGs as on 31 March 2010 – Private Sector

V - B Bank Loans outstanding against SHGs as on 31 March 2010 – Regional Rural Banks 79

VI - A (i) NPAs against Bank loans to SHGs and Recovery Performance of Public Sector

VI - A (ii) NPAs against Bank loans to SHGs and Recovery Performance of Private Sector

VI - B NPAs against Bank loans to SHGs and Recovery Performance of Regional Rural Banks

VIII NABARD Support for Training and Capacity Buliding under Microfinance Sector – 2009-10 118

IX - C Support to Co-operative Banks Functioning as SHPI 175

IX - E Support to Farmers Clubs Functioning as SHPI 182

X - A Agencies having outstanding Revolving Fund Assistance as on 31 March 2010 183

X - B Agencies having outstanding Capital Support as on 31 March 2010 184

X - C MFIs assisted with grant support for rating during the year 2009-2010 185

XI - A Special focus on the Resource Poor Regions – Savings Linked SHGs in the 13 Priority States 186

XI - B Special focus on the Resource Poor Regions – Loans Disbursed to SHGs in the 13 Priority States 187

XI - C Special focus on the Resource Poor Regions – Loans Outstanding against SHGs in the 13 Priority States 188

Contents

Physical

Þ Total number of SHGs having loans outstanding as on

Þ Total amount of loans outstanding against SHGs

Þ Average loan amount outstanding per member

SHG – Bank Linkage Programme 2009-10

Participating banks

total number of banks submitted Mis

support from NABARD

Capacity building of partner institutions

Refinance support

Revolving Fund Assistance [RFA] to MFis

Capital Support [CS] to MFIs

Grant Assistance to sHPis for Promotion of sHGs

Micro Finance in India

1 introduction

Microfinance sector has traversed a long

journey from micro savings to micro credit and

then to micro enterprises and now entered the

field of micro insurance, micro remittance and

micro pension This gradual and evolutionary

growth process has given a great opportunity

to the rural poor in India to attain reasonable

economic, social and cultural empowerment,

leading to better living standard and quality

of life for participating households Financial

institutions in the country continued to play a

leading role in the microfinance programme

for nearly two decades now They have joined

hands proactively with informal delivery channels to give microfinance sector the necessary momentum During the current year too, microfinance has registered an impressive expansion at the grass root level This booklet aims to provide a snapshot of the progress in the microfinance sector.

Since 2006-07, NABARD has been compiling and analysing the data on progress made in microfinance sector, based on the returns furnished by Commercial Banks (CBs), Regional Rural Banks (RRBs) and Cooperative Banks operating in the country The banks operating, presently, in the formal financial system comprises Public Sector CBs (27), Private Sector CBs (22), RRBs (82), State Cooperative Banks (31) and District Central Cooperative Banks (370) Most of the banks participating in the process of microfinance have reported the progress made under the programme.

The data presented in this booklet covers information relating to savings of Self Help Groups (SHGs) with banks as on 31 March 2010, loans disbursed by banks to SHGs during the year 2009-10, loans outstanding of the banking system against the SHGs and the details of Non-Performing Assets (NPAs) and recovery percentage in respect of bank loans provided to SHGs as on 31 March 2010 The data have been compiled region-wise, State- wise and agency-wise The booklet also provides details relating to SHGs coming under Swarnjayanti Gram Swarojgar Yojna (SGSY) and exclusive women groups In addition, the information relating to bulk lending provided by Banks and Financial Institutions to Micro Finance Institutions (MFIs) for on lending to groups and individuals have also been provided Based on these data and information, this booklet attempts an assessment of progress on varied dimensions of the microfinance sector.

NABARD has been instrumental in facilitating

various activities under microfinance sector,

involving all possible partners at the ground

level in the field NABARD has been

encouraging voluntary agencies, bankers,

socially spirited individuals, other formal

and informal entities and also government

functionaries to promote and nurture SHGs

The focus in this direction has been on training

and capacity building of partners, promotional

grant assistance to Self Help Promoting

Institutions (SHPIs), Revolving Fund Assistance (RFA) to MFIs, equity/ capital support to MFIs to supplement their financial resources and provision of 100 per cent refinance against bank loans provided by various banks for microfinance activities Financial support and promotional efforts of NABARD towards development of the microfinance sector have also been outlined in this booklet.

2 Progress under Microfinance - Highlights

2.1 Different Models of Microfinance

In this section, the data for the year 2009-10 alongwith a few preceding years have been presented and reviewed under two models of microfinance involving credit linkage with banks :

(i) SHG - Bank Linkage Model : This

model involves the SHGs financed directly by the banks viz., CBs (Public Sector and Private Sector), RRBs and Cooperative Banks.

(ii) MFI - Bank Linkage Model : This

model covers financing of Micro Finance Institutions (MFIs) by banking agencies for on-lending to SHGs and other small borrowers.

2.2 status of Micro-finance

The overall progress under these two models is depicted in Table -1:

Milch animals purchased by JLGs / Bagavali PACS.

table : 1- Overall Progress under Micro-finance during the last three years

(` in crore)

Particulars 2007-08 2008-09 % Growth (2008-09) 2009-10 % Growth (2009-10)

No of Amount No of Amount No of Amount No of Amount No of Amount

the year SGSY

Bank Loans Total 3625941 16999.91 4224338 22679.84 16.5 33.4 4851356 28038.28 14.8 23.6 outstanding SHGs

Particulars 2007-08 2008-09 Growth during 2008-09 (%) 2009-10 Growth during 2009-10 (%)

No of Amount No of Amount No of Amount No of Amount No of Amount

Bank Loans disbursed 518 1970.15 581 3732.33 12.2% 89.4% 691 8062.74 18.9% 116.0%

to MFIs during the year

Bank Loans outstanding 1109 2748.84 1915 5009.09 72.7% 82.2% 1513 10147.54 (21%) 102.6% with MFIs as on

31 March

Note : Actual number of MFIs provided with bank loans would be less as several MFIs could have availed loans from more than one bank.

B.(2) MFis supported by siDBi (` in crore)

Loans outstanding against MFIs as on 31 March 2010 146 3808.20

In addition, to the SHG-Bank linkage model and MFI-Bank linkage model, Small Industries Development Bank of India (SIDBI) has also supported MFIs The details for the year 2009-

10 are presented below:

table : 2 – Position of Women sHGs

Loans Outstanding 31.03.2009 4224338 22679.84 3277355 18583.54 77.6 81.9 31.03.2010 4851356 28038.28 3897797 23030.36 80.3 82.1

31 March 2010.

3 sHG - Bank linkage

This section provides disaggregated picture of the progress achieved under SHG Bank linkage programme.

3.1 savings of sHGs with Banks

As on 31 March 2010, a total of 69.53 lakh SHGs were having saving bank accounts with the banking sector with outstanding savings of ` 6198.71 crore as against 61.21 lakh SHGs with savings of ` 5545.62 crore as on 31 March 2009, thereby showing a growth rate of 13.6 per cent and 11.8 per cent, respectively Thus, more than 97 million poor households were associated with banking agencies under SHG-Bank Linkage Programme As on 31 March 2010, the CBs lead with savings accounts of 40.53 lakh SHGs (58.3%) with savings amount of ` 3673.89 crore (59.3 %) followed by RRBs having savings bank accounts of 18.21 lakh SHGs (26.2% ) with savings amount of

10.79 lakh SHGs (15.5 %) with savings amount of ` 1225.44 crore (19.8%).

The share under SGSY was 16.94 lakh SHGs with savings of ` 1,292.62 crore forming 24.4 per cent of the total SHGs having savings accounts with the banks and 20.8 per cent of their total savings amount.

The agency-wise savings of SHGs with banks as on 31 March 2009 and 31 March

2010 are given in Table - 3:

table : 3 – savings of sHGs with Banks – Agency-wise Position

(` in crore) Agency Position total sHGs’ savings with the banks as on Per sHG Out of total : sHGs’

(Rupees) under sGsY

Commercial Banks 31.03.09 3549509 58.0 2772.99 50.0 7812 931422 681.60(Public & Private 31.03.10 4052915 58.3 3673.89 59.3 9065 1088160 831.48

During the year under review, the average savings per SHG with all banks had marginally decreased from ` 9,060 as on 31 March 2009 to ` 8,915 as on 31 March

2010 The decrease may be due to proper utilization of saving amount by SHGs for internal lending It varied from ` 11,352 per SHG with co-operative banks to ` 7,136 per SHG with RRBs.

As on 31 March 2010, the share of women SHGs in the total SHGs with saving bank accounts was 53.10 lakh SHGs forming 76.4 per cent as compared to the previous year’s share of 79.5 per cent The actual share of women SHGs would be more as all RRBs from Uttar Pradesh, Gujarat and Jammu & Kashmir and all Co-operative Banks from Uttar Pradesh, Gujarat, Jammu & Kashmir, Goa, Assam, Nagaland, Tripura, Mizoram, and Manipur have not reported data for women SHGs In addition, some of RRBs viz., Marathwada Gramin Bank from Maharashtra, Assam Gramin Vikas Bank, Bihar Kshetriya Gramin Bank, Madhya Bihar Gramin Bank, Nainital Almora Kshetriya Gramin Bank and some of the Central Cooperative Banks have also not reported women SHGs data.

The State-wise and bank-wise position of savings of SHGs with banks as on 31 March

2010 is indicated at Statement III-A (i) (Public sector CBs), III-A (ii) (Private sector CBs), III-B (RRBs) and III-C (Cooperative Banks).

3.2 Bank loans Disbursed to sHGs

During 2009-10, banks have financed 15.87 lakh SHGs, including repeat loan to the existing SHGs, with bank loans of ` 14,453.30 crore as against 16.10 SHGs with bank loans of ` 12,253.51 crore during 2008-09, registering a decline of 1.4 per cent of SHGs but a growth of 17.9 per cent in bank loans disbursed Out of the total loans disbursed during 2009-10, SHGs financed under SGSY accounted for 2.67 lakh (16.9%) with bank loan of ` 2198.00 crore (15.2%) as against 2.65 lakh SHGs (16.4%) with bank loan of ` 2015.22 crore (16.4%) during 2008-09.

The agency-wise details of loans disbursed by banks to SHGs during the years

2008-09 and 202008-09-10 are given in Table 4.

table 4 : Bank loans disbursed to sHGs – Agency-wise Position

(` in crore) Agency During the total loans disbursed by Banks to Per sHG Out of total : Bank

disbursed sHGs under sGsY

Commercial Banks 2008-09 1004587 62.4 8060.53 65.8 80237 133117 1102.38(Public & Private 2009-10 977521 61.6 9780.18 67.7 100050 157560 1215.50

During 2009-10, average bank loan disbursed per SHG was ` 91,083 as against

` 76,128 during 2008-09 The average loan per SHG ranged from of ` 1,00,050 per SHG by CBs to ` 57,629 per SHG by Cooperative Banks.

The State-wise and bank-wise position of disbursement of bank loans to SHGs during the year 2009-10 is indicated at Statement IV-A (i) (Public sector CBs), IV-A (ii) (Private sector CBs), Statement IV-B (RRBs) and Statement IV-C (Cooperative Banks).

3.3 Bank loans Outstanding against sHGs

As on 31 March 2010, total number of 48.51 lakh SHGs were having outstanding bank loans of ` 28,038.28 crore as against 42.24 lakh SHGs with bank loans of ` 22,679.85 crore as on 31 March 2009, representing a growth of 14.8 per cent in number of SHGs and 23.6 per cent in bank loans outstanding against SHGs The share of SHGs under SGSY was 12.45 lakh SHGs (25.7%) with outstanding bank loans of ` 6,251.07 crore (22.3%) as against 9.77 lakh SHGs (23.1%) with outstanding bank loans of ` 5,861.72 crore (25.8%) as on 31 March 2009.

The agency-wise position of outstanding bank loans to SHGs for the years 2008-09 and 2009-10 are given in Table 5.

table 5 : Bank loan outstanding against sHGs – Agency-wise Position

(` in crore) Agency Position total Bank loan outstanding Per sHG- Out of total: Bank loan

loan O/s sHGs under sGsY

CBs (Public & 31.03.2009 2831374 67.1 16149.43 71.2 57,037 645145 3961.53Private Sector) 31.03.2010 3237263 66.7 20164.71 71.9 62,289 798304 4072.03

table : 6 – Agency-wise NPAs of Bank loans to sHGs

(` in crore)

3.4 Non-Performing Assets of Bank loans to sHGs

As on 31 March 2010, total 221 banks had reported data on Non Performing Assets (NPAs) Based on these data, NPAs to total bank loans outstanding against SHGs as

on 31 March 2010 stood at 2.94 per cent, amounted to ` 823.04 crore, which showed

an increase from 2.90 per cent and ` 625.87 crore during 2008-09.

In case of SHGs under SGSY, NPAs to total bank loans outstanding against SHGs were five per cent, amounting to ` 319.47 crore, as on 31 March 2010 The agency- wise position of NPAs to total bank loans outstanding against SHGs as on 31 March

2010 is given in Table 6:

The State-wise and bank-wise position of NPAs of bank loans to SHGs as on 31 March 2010 are provided in Statement VI-A (i) (Public Sector Commercial Banks), VI-A (ii) (Private Sector Commercial Banks), VI-B (RRBs) and VI-C (Cooperative Banks).

3.5 Recovery Performance of Bank

The recovery performance of banks varies from region to region and also as between SHG-Bank linkage programme and SHGs financed under SGSY programme On the basis of data reported by banks, out of 302 banks which have reported the recovery data, 203 banks (67.2%) had more than 80% recovery of SHG loans as on 31 March

2010 which remained about the same as on 31 March 2009 Agency-wise distribution

of banks according to recovery per centage of SHGs, is given in Table – 7.

As regards recovery percentage of SHG loans by banks under SGSY, out of total 165 banks reported the recovery data of SHGs under SGSY, 86 banks (52.2%) had more than 80% recovery of as on 31 March 2010 as against 58.9% as on 31 March 2009 Agency-wise percentage distribution of banks according to recovery performance is given in Table – 8.

table : 8 – Recovery Performance – Agency-wise (Exclusive sGsY sHGs)

Agency total no of No of banks, based on percentage distribution of recovery

Banks reported performance of bank loans to sHGs as on 31 March 2010 recovery data

4 Micro Credit by Micro Finance institutions

Micro Finance Institutions (MFIs) are playing an important role of financial intermediaries in microfinance sector The MFIs operate under various legal forms, viz.,

Act, 1880

Aided Cooperative Societies Act (MACS) or Multi- State Coop Societies Act, 2002

Following the RBI guidelines issued vide its circular dated 18 February 2000, to all scheduled commercial banks including RRBs, MFIs have been availing bulk loans from banks for on-lending to groups and other small borrowers On the basis of returns received from banks for the year 2009-10, SIDBI, 21 Public Sector Commercial Banks, 14 private

table : 7 – Recovery Performance – Agency-wise (All sHGs)Agency No of Banks No of banks based on percentage distribution of recovery

reported recovery performance of bank loans to sHGs as on 31 March 2010 data

sector Commercial Banks, 04 foreign Commercial Banks, 7 RRBs and one Co-operative Bank had reportedly financed MFIs for on-lending to groups and other small borrowers to promote microfinance activities.

Based on the MIS, banks have financed to 691 MFIs with bank loans of ` 8062.74 crore as against 581 MFIs with bank loans of ` 3,732.33 crore during 2008-09, representing growth rate of 116.5 per cent in bank loans disbursed As on 31 March 2010, the outstanding bank loans to 1513 MFIs was ` 10147.54 crore as against ` 5009.09 crore to 1915 MFIs as on

31 March 2009, showing doubling of bank loan over the previous year.

Further, during the year 2009-10, SIDBI had financed to 88 MFIs with financial assistance

of ` 2665.75 crore and the loan outstanding against 146 MFIs as on 31 March 2010 was

on 31 March 2010 was to the tune of ` 13955.74 crore.

The progress under MFI-bank Linkage programme, for the year 2008-09 and 2009-10, is given in Table – 9.

table 9 : Bank loan provided to MFis

(` in crore)

disbursed to against NGOs/ MFis Recovery of

CBs (Public, Private and Foreign) 2008-09 522 3,718.93 1,762 4,977.89 70-100

Note: Actual no of MFIs provided with bank loans would be less as several MFIs had availed loans from more than one bank.

NA – Not Applicable/Not available

Bank-wise details of MFIs financed by banks during the year 2009-10 are furnished in Statement VII.

5 Financial support and Promotional Efforts by NABARD

5.1 NABARD Refinance support to Banks

NABARD provides refinance support to banks to the extent of 100 per cent of the bank loans disbursed to SHGs The total refinance disbursed to banks against banks’ loans

to SHGs during 2009-10 was ` 3173.56 crore, registered a growth of 21.1 per cent from ` 2620.03 crore in 2008-09 Further, the cumulative refinance disbursed under SHG bank linkage programme by NABARD to Banks upto 31 March 2010 stood at

5.2 Promotional support - sHG-Bank linkage

(i) Micro Finance Development and Equity Fund

To strengthen the efforts of NABARD towards promotional support for micro finance, the Government of India in the Union Budget for 2010-11 had further increased the corpus of Micro Finance Development and Equity Fund (MFDEF) to

` 400 crore Recognising the need for upscaling the micro-Finance interventions

in the country, the Hon’ble Union Finance Minister, while presenting the budget for the year 2000-01, had created Micro Finance Development Fund (mFDF) with

an initial contribution of ` 100 crore, to be funded by Reserve Bank of India, NABARD and commercial Banks in the ratio of 40:40:20 In the Union Budget for 2005-06, the Government of India had decided to re-designate the mFDF into mFDEF and raised its corpus from ` 100 crore to ` 200 crore The mFDEF

is managed and administered by NABARD under the guidance of an mFDEF Advisory Board The objective of mFDEF is to facilitate and support the orderly growth of the microfinance sector through diverse modalities for enlarging the flow

of financial services to the poor, particularly for women and vulnerable sections of society consistent with sustainability.

The Fund is utilised to support interventions to eligible institutions and stakeholders The major components of the assistance include promotional grant assistance to Self-Help Promoting Agencies, training and capacity building for microfinance clients and stakeholders of SHG - Bank Linkage Programme, funding support to MFIs, Management Information System (MIS) for microfinance, research, studies and publications.

(ii) training and Capacity building

organize / sponsor training

programmes and exposure

visits for the benefit of officials

of banks, NGOs, SHGs and

enhance their effectiveness

in the field of microfinance

Training supplements and

materials were supplied to

banks and other agencies

Best practices and innovations

of partner agencies were

banks and NGOs During the year 2009-10, fund support of ` 9.93 crore was provided for capacity building, exposure visits and awareness-building as against

as on 31 March 2010 stood at ` 45.02 crore During 2009-10, 6,804 training/ capacity building programmes were conducted covering 2,53,868 participants The progress under training and capacity building during the year 2009-10 is given in Table -10.

table : 10 – training and Capacity Building Programmes – 2009-10

conducted

1 Awareness creation and capacity building programmes organised for

SHG members in association with identified resource NGOs, covering

participants to inculcate skills for managing thrift and credit 1991 83131

2 Awareness-cum-refresher programmes conducted for NGOs, including CEOs 1130 35648

3 Training programmes conducted for bankers covering officials of Commercial banks,

4 Exposure visits for bank officials / NGOs to agencies pioneering in Microfinance

5 Field visits of Block Level Bankers' Committee (BLBC) members to nearby SHGs 227 5880

6 Programmes for the elected members of Panchayati Raj Institutions (PRIs) to create

7 Training & exposure programmes for government officials 79 3385

8 Other training programmes for microfinance sector 1181 65029

9 Micro Enterprises Development Programme (MEDP) 1530 38313

11 Meetings and Seminars (Bankers, NGO officials, etc.) 74 3351

The Region/State-wise position of support provided by NABARD for training and capacity building during the year 2009-10 is given in Statement VIII.

(iii) Joint liability Groups:

Based on the studies conducted by NABARD, it was found that financing

of Joint Liability Groups (JLGs) is a good business proposition It needs

dynamics, timely repayment culture and prospects of credit enhancement

to quality clients Keeping in view the need and findings of the studies, NABARD has issued comprehensive guidelines on JLGs to Banks focusing

on small and marginal farmers, oral lessees, tenant farmers engaged in farm sector and other clients under non- farm activities NABARD supports banks for nurturing and financing of JLGs for the initial three years Banks may use the services of JLG-promoting agencies

In addition, NABARD would also extend support for training, exposure visits, experience-sharing, etc., for banks’ staff The details of the scheme are given in Exhibit.

(iv) Micro Enterprise Development Programme for skill Development

The Micro Enterprise Development Programme (MEDP) was launched by NABARD in March 2006 with the basic objective to enhance the capacities of the members of matured SHGs to take up micro enterprises through appropriate skill upgradation / development in the existing or new livelihood activities both in farm and non-farm sectors by way of enriching knowledge of participants on enterprise management, business dynamics and rural markets It is tailor-made and focused

on skill building training programme The duration of training programme ranged

JLG of Bagavali PACS with the leafy vegetable.

between 3 and 13 days, depending upon the objective and nature of training The training budget has been revised to ` 39,000/- per programme for imparting training to

30 participants upto 13 days.

In 2009-10, a total of 1530 MEDPs, both under Farm and Non-farm activities, were conducted across the country covering 38313 members

of the matured SHGs Cumulatively, total 2837 MEDPs have been conducted so far covering 93777 participants The dominant activities in agriculture and allied sector covered under MEDPs were animal husbandry, bee-keeping, mushroom cultivation, vermi- compost/ organic manure, horticulture, floriculture, etc whereas predominant non-farm activities taken up under MEDPs were readymade garments, Agarbatti- making, embroidery, bamboo-craft, beauty parlours, etc.

(v) Grant support to Partner Agencies for Promotion and Nurture of sHGs

NABARD continued its efforts in the formation and nurturing of quality SHGs by means of promotional grant support to NGOs, RRBs, DCCBs, Farmers' Clubs and Individual Rural Volunteers (IRVs) and by facilitating capacity building of various partners, which has brought impressive results in the promotion and credit linkage

of SHGs Further, the number of partner institutions/individuals functioning as Self-Help Promoting Institutions (SHPIs) over the years has increased to 2911 which has resulted in the expansion of the programme throughout the country During the year 2009-10, the financial support provided by NABARD to its partner institutions and their progress in SHGs promotion / linkage are indicated in Table - 11.

table : 11 – Grant support to Partner Agencies - 2009-10

(` in lakh) Grant Assistance Extended to various Partners under sHG-Bank linkage Programme

Agency sanctions during the Year Cumulative sanctions Cumulative Progress

NGOs 306 2620.10 53393 2624 9025.81 345173 3469.69 244367 157831RRBs 4 40.14 3395 117 429.44 47975 189.23 54271 36155Co-operatives 7 63.23 5230 102 626.36 59105 252.95 44618 29075IRVs (2023) 2 154.70 9250 68 684.46 40483 63.91 9991 5636

The SHPI-wise details of the promotional grant provided by NABARD during the year 2009-10 are given in Statement No IX-A (NGOs- SHPI), IX-B (RRBs- SHPI), IX-C (Coop Banks- SHPI), IX-D (IRVs- SHPI) and IX-E (Farmers Clubs-SHPI).

(vi) Pilot Project on sHG-Post Office linkage Programme

The Pilot Project for SHG-Post Office Linkage programme was initially launched

in five select districts of Tamil Nadu, viz., Sivaganga, Pudukottai, Tiruvannamalai, Thanjavur and Tiruvarur The initial results have been encouraging Thus,

NABARD has sanctioned an additional Revolving Fund Assistance (RFA) of ` 200 lakh to India Post for on-lending to the SHGs, taking the total RFA sanctioned to

As on 31 March 2010, 2,828 SHGs have opened zero interest savings accounts with select Post Offices in Tamil Nadu and 1195 SHGs have been credit linked with loans amounting to ` 321.25 lakh.

NABARD has sanctioned RFA of ` 5 lakh to Post Offices in Meghalaya for lending to 50 SHGs in East Khasi Hills.

on-(vii) support to Activity-Based Groups

NABARD introduced a scheme for supporting small-scale activity based groups (ABGs) in 2008-09, wherein capacity building, production and investment credit and market-related support would be extended The scheme focuses on forming and nurturing the groups engaged

in similar economic activities, such

as farmers, handloom weavers,

craftsmen, fishermen, etc., to improve

efficiency of their production and

realise better terms from the market

through economies of aggregation

and scale The scheme drew upon

support and has both grant and loan

components While grant support

would cover expenditure on SHGs

formation and training, extension services, establishing market linkages, etc., bank loan/s would cover investment activities and working capital needs of the SHGs Banks would be eligible to draw refinance for the loans provided to Activity- Based Groups on the same terms as applicable for SHG’s financing In select cases, NABARD may also provide loans directly to registered SHGs or through the agencies promoting SHGs to establish few initial projects where none exists.

(viii) support to sHGs’ Federations

Recognising the emerging role of the SHGs’ Federations in nurturing of SHGs, enhancing the bargaining powers of group members and livelihood promotion, NABARD introduced during 2007-08, a flexible scheme to support such Federations, irrespective of their model The broad norms prescribed for supporting SHG Federations stipulate that the federations should be need-based, member-owned/driven, democratically managed with members at liberty to join, become self-managed over three years, etc NABARD extends grant support

to the Federation for training, capacity building, and exposure visits of SHG members, etc., as also under all of NABARD’s existing promotional schemes So far grant assistance of ` 22.02 lakh has been sanctioned to SHG Federations.

(ix) special initiative for scaling up sHGs/ sHG Federations

NABARD has been associated with Rajiv Gandhi Charitable Trust (RGCT) for promotion, credit linkage and formation of SHG Federations in select districts

of Uttar Pradesh The project envisages promotion and credit linkage of 22,000 SHGs, 1,100 cluster-level associations and 44 block-level associations in collaboration with participating banks and implementing NGOs The project would

cover 15 and 29 blocks under Phase I and II respectively in 12 districts of Uttar Pradesh viz Sultanpur, Rae Bareli, Barabanki, Pratapgarh, Lucknow, Unnao, Fatehpur, Jhansi, Lalitpur, Bahraich, Shravasti and Banda NABARD and RGCT have designed the project with technical assistance from Society for Elimination of Rural Poverty (SERP), Government of Andhra Pradesh As at the end of 31 March

2010, 21,868 SHGs have been promoted, of which 12,749 SHGs have been credit linked In addition, 676 Village Level and 15 Block Level SHG Federations were formed under Phase I and Phase II.

(x) state specific support in North Eastern Region

(a) Arunachal Pradesh: During 2008-09, an amount of ` 39.15 lakh was sanctioned by NABARD for implementing the project ‘Micro Finance Vision 2011’ by the Govt of Arunachal Pradesh Further, an amount of ` 33.66 lakh was sanctioned to the Essom Foundation Trust for setting up a Resource Centre at Itanagar for providing policy, operational inputs, capacity building support and marketing linkages among the groups NABARD has released ` 5.452 lakh to the trust upto 31 March 2010.

(b) Tripura: NABARD continued to provide technical support to the State support project on SHGs being implemented by the Government of Tripura for credit linkage of 11,500 existing SHGs, forming and credit linking 35,000 new SHGs and promoting livelihood activities among the 3 lakh members upto 2012.

5.3 Promotional support - MFi Bank linkage

NABARD has taken three major initiatives to support Micro Finance Institutions (MFIs)

to strengthen them as detailed in the following paragraphs:

(i) Capital support to MFis

(a) the scheme:

As mentioned earlier, the Micro Finance Development Fund (mFDF) was set

up with NABARD by Government of India in 2000-01 with the initial corpus

of ` 100 crore to be contributed by Reserve Bank of India (40%), NABARD (40%) and Commercial Banks (20%) The mFDF was redesignated to Micro Finance Development and Equity Fund (mFDEF) in 2005-06 and the corpus was increased to ` 200 crore and same has been further increased

to ` 400 crore during 2010-11 Accordingly, NABARD formulated a scheme called “Capital/Equity Support to MFIs” in 2007-08 for providing Capital/equity support to various types of MFIs to enable them to leverage commercial and other funds from banks This would help MFIs in providing financial services

at an affordable cost to the poor.

During 2009-10, NABARD introduced a new scheme for "Capital Support

to start-up MFIs" having potential to scale-up their activities but lacking

in capital, infrastructural facilities and managerial skills Micro-Finance Organisations (MFOs) and MFI-NBFCs, identified as ‘Start ups’ on the basis

of area of operation, client outreach, lending model, borrowing history, etc., are eligible for support under the scheme Financial support will be in the form of ’subordinated debt’ which shall be sub-ordinate to the claims of all other creditors The quantum of support will be commensurate with the business plan of the MFO / MFI-NBFC but not exceeding ` 50 lakh in any case The rate of interest has been fixed at 3.5 per cent to be repaid over a period of 7 years including moratorium of 2 years.

(b) Progress under scheme:

During 2009-10, under Capital Support Scheme, 10 proposals amounting to

` 6.87 crore were sanctioned to 10 MFIs and disbursed ` 7.87 crore The outstanding under Capital support as on 31 March 2010 was ` 24.17 crore against 31 MFIs The agency-wise outstanding is given in Statement No X(B).

(ii) Revolving Fund Assistance to MFis

(a) the scheme:

NABARD provides loan funds in the form of Revolving Fund Assistance (RFA), on a selective basis, to MFIs The RFA provided to these agencies is necessarily to be used for on-lending to SHGs or individuals and the amount

is to be repaid along with the service charge between 3.5 per cent and 9.5 per cent within a stipulated period of 5 to 7 years with one to two years of moratorium period This enables them to build a ‘credit history’, which would help them to access credit facilities through the regular banking channels.

(b) Progress under scheme:

During 2009-10, RFA of ` 23 crore was sanctioned to 13 MFIs taking cumulative RFA sanction to ` 65.98 crore to 51 agencies The disbursements made during 2009-10 were at ` 22.55 crore and the cumulative disbursement reached to ` 55.49 crore As on 31 March 2010, the total RFA outstanding was ` 33.27 crore against 22 MFIs The details of agencies-wise outstanding RFA are given in Statement - X(A).

Besides Capital Support and RFA from MFDEF, refinance assistance of ` 30 crore was also released during 2009-10 of which outstanding as on 31 March

2010 was Rs.28.33 crore.

(iii) Rating of MFis

In order to identify, classify and rate Micro Finance Institutions (MFIs) and empower them to function as intermediaries between the lending banks and their clients, NABARD had introduced a scheme for providing financial assistance by way of grant to CBs, RRBs and Co-operative Banks to avail of the services of accredited rating agencies for rating of MFIs Banks can avail the services of credit rating agencies viz CRISIL, M-CRIL, ICRA, CARE and Planet Finance for rating of MFIs and also avail financial assistance by way of grant to the extent of

100 per cent of the professional fees of the credit rating agency.

During 2009-10, the scheme has been refined and the grant support has been increased to a maximum of ` 3.00 lakh The facility is available for the first rating

of an MFI with a minimum loan outstanding of ` 50.00 lakh and maximum loan outstanding of ` 10 crore Duirng 2009-10, NABARD has provided grant support

of ` 15.83 lakh for rating of 13 MFIs to Banks or MFIs The MFI-wise details of the grant support provided by NABARD for rating of the MFIs duirng the year are given in Statement No X (C).

6 Quality And sustainability of sHGs

NABARD had entrusted a study to, Institute for Social and Economic Change (ISEC), Bagalore for studying the quality and sustainability of SHGs in Karnataka For study purpose, three representative districts viz Mysore (well developed), Tumkur (medium), and Bagalkot (less developed) and the major finding are as follows:

 96 per cent of the SHGs constituted women's group with an average of 17 members per SHG.

per cent to Co-operatives.

meetings and meetings were held less frequently.

Anganwadi workers for maintenance of accounts and further guidance.

income generating activities than the banks whose role in the area appeared to be low.

help and useful as training imparted did not match the needs of the members.

the members.

fifth dose in all the districts covered under study Maximum loan availed amounted to

cent between three and five times.

Mysore district and 70 per cent in Tumkur district reported getting inadequate loans.

banks,

among the members

charged 12 per cent whereas the DCCBs charged at the rate of 4.5 per cent (subsidised by the State Govt).

stopped going to money lenders.

The SHG BLP has led to social and economic empowerment of the rural poor, such as: Ninety two per cent of the SHG members came out of the four walls of the their houses and 76 per cent of the them were able to interact with officials/ give speeches and 28 per cent of the members were able to save in banks; the result were seen in decision making in household matter, sending children to school, changing undesirable habits of their spouse, participating in Gram Panchayat election, access to bank credit after joining SHG (98%) as compared to mere two per cent before joining, increase in income by undertaking income- generating activities, etc.

7 Centre for Micro Finance Research

With the funding support from MFDEF, a Centre for Micro finance Research (CMR) has been setup in Bankers Institute of Rural Development, Lucknow to take up research studies

in the field of microfinance with the mission of strengthening microfinance sector through supply of research inputs to facilitate policy initiatives and improvements in design and delivery system that provide poor with sustainable access to quality financial services The CMR along with four sub-centres viz., Indian Institute of Bank Management (IIBM), Guwahati, Institute of Financial Management and Research (IFMR), Chennai, Institute

of Development Studies (IDS), Jaipur and Chadragupta Institute of Management, Patna (CIMP) had initiated several studies on critical issues of microfinance Grant assistance

of ` 375.00 lakh was sanctioned to CMR from MFDEF to pursue the above-envisaged activities.

8 NABARD – GtZ technical Collaboration in Rural Finance

institutions Programme

Under the purview of technical collaboration in Rural Finance Institutions Programme between GTZ and NABARD, technical assistance continued to be extended to NABARD during the year for, interalia, promotion and

development of microfinance as well as

improvement in the quality and viability of

financial services under SHG-Bank Linkage

Programme Exposure-cum-studies, capacity

building interventions and documentation, etc.,

were undertaken in collaborative process for

furtherance of the sector.

The report of the 'Committee on Financial

Inclusion' has indicated the need for

addressing the remittance needs of the poor

and NABARD has to play an important role in

this Keeping in view, NABARD with GTZ has

undertaken a quick study on present practices

of remittance and the team leader was Dr

Y.S.P.Thorat (ex-chairman, NABARD) Based

on the findings of the study report, a joint

appraisal mission on remittance discussed

the issue with various partners viz., Ministry

of Finance, GoI, Reserve Bank of India,

State Bank of India, India Post, Mr Nandan

Nilekani (Unique ID), etc On the basis of the

discussions of the appraisal team, NABARD

and GTZ signed 'Agreed Minutes on the Joint Appraisal of the Programme’ on 19 January

2010 The NABARD and GTZ have now commissioned a detailed study on "Remittance needs of the poor" in different corridors (Eastern Uttar Pradesh and Mumbai, Intra State between various parts of Maharashtra and Mumbai and Orissa and Kolkata).

Findings of the study will be presented before Government of India and Reserve Bank

of India for policy changes, if required, for financial inclusion of poor migrant workers particularly rural women.

1 introduction

SHG-Bank linkage programme has proved to be successful in providing financial services from the formal banking sector to the poor However, the issue of linking the small /marginal farmers, tenant farmers / oral lessees, share croppers and the rural non-farm entrepreneurs with the formal banking sector was concern for NABARD as their demand were not met through the SHG as in SHGs, loan amount is linked to savings.

NABARD had piloted Joint Liability Groups (JLGs) programme during 2004-05 in eight states

of the country with the help of 13 RRBs through the mechanism of joint liability approach The JLGs promoted in 2004-05 were 285 with bank finance of ` 4.48 crores and to 488 JLGs with bank loan of ` 6.79 crores in 2005-06 Besides the above pilot project, the Government

of Andhra Pradesh through its Agriculture Department primarily designed the initiative by promoting Rythu Mithra Groups (RMGs) on the SHG model During 2005-06, banks extended finance of ` 131.78 crore to 12,468 RMGs RMGs are also expected to serve as a conduit for technology transfer, facilitate access to market information and assist in carrying out activities like soil testing, training, health camps, assess input requirements, etc., to its members Over the last few years NABARD has been propagating the idea of JLGs at various fora Based on the experience gained in implementation of the pilot project, a scheme for financing JLGs by the Commercial Banks, RRBs and Cooperative Banks has been formulated and circulated to RRBs and Co-operative Banks by NABARD and to Commercial Banks through Reserve Bank of India/Indian Banks Association The salient features of the scheme are as given below:-

2 Objectives: the scheme aims at the following objectives

sharecroppers and small farmers who do not have proper title of their land holding, through formation and financing of JLGs.

ii) To extend collateral free loans to target clients, including rural micro entrepreneurs through JLGs

iii) To build mutual trust and confidence between banks, tenant farmers, entrepreneurs, etc.

3 General features of JlG

(i) JLG is an informal group of preferably 4 to10 individuals but can be upto 20 members

as in the case of SHG

(ii) The JLG members would offer a joint undertaking for bank loans.

(iii) The JLG members are expected to engage in similar type of economic activities like crop production.

1 Tenant - Any person who holds land under another person's name and pays rent to such other person on account of the use of land is called a tenant i.e Tenant is a person who has taken the lease and is liable to pay rent for the piece of land

Oral lessees - The term refers to tenancy without legal sanction and permission or without any written agreement

Sharecroppers - Tenants who pay rent to landlords by way of sharing crops grown (in lieu of rent by cash) may

be called sharecroppers

Joint Liability Group

4 Criteria for selection of JlG members

JLGs can be formed primarily consisting of tenant farmers and small farmers cultivating land without possessing proper title of their land / rural entrepreneurs engaged in non-farm activities.

(i) Members should be of similar socio-economic status and background carrying out farming activities / non-farm activities and who agree to function as a joint liability group.

(ii) The members should be residing in the same village/ area and trust each other to take

up joint liability for group/ individual loans.

(iii) The members should be engaged in agricultural activity for a continuous period of not less than one year within the area of operations of the bank branch.

(iv) The group members should not be a defaulter to any other formal financial institution (v) There should not be more than one person from the same family in the JLG.

5 security

The group would extend mutual guarantee for the group or individual loan.

6 Formation of JlGs

Banks may initially form JLGs by using their

own staff wherever feasible Banks may also

engage business facilitators like NGOs and

other individual rural volunteers to assist banks

in promoting the concept and formation of

groups.

7 savings by JlG

The JLG is intended primarily to be a credit

group Therefore, savings by the JLG members

is voluntary and not compulsory as in the case of SHG All the JLG members may be encouraged to open an individual "no frills" account However, if the JLG chooses to undertake savings as well as credit operations through the group mechanism, such groups should open a savings account in the name of JLG with atleast two members being authorised to operate the account on behalf of the group.

8 JlG Models

Banks can finance JLG by adopting any one of the following two models;

Model A – Financing Individuals in the Group: The group would be eligible for accessing

separate individual loans from the financing bank All members would jointly execute one inter-se document (making each one jointly and severally liable for repayment of all loans taken by all individuals in the group) The financing bank could assess the credit requirement, depending on the activities being undertaken and credit absorption capacity

of the individual However, there has to be mutual agreement and consensus among all members about the amount of individual debt liability that will be created.

Model B – Financing the Group: The JLG would consist preferably of 4 to 10 individuals

and function as one borrowing unit The group would be eligible for accessing one loan, which could be combined credit requirement of all its members In case of crop loan, the credit assessment of the group could be based on crop/s to be grown and the available cultivable area by each member of the JLG All members would jointly execute the document and own the debt liability jointly and severally.

JLG Farmer spraying pesticide.

9 type of loan

Banks may consider cash credit, short-term loan or term loan or composite loan (working capital with term loan) depending upon the purpose of loan.

10 Margin and security Norms

No collaterals may be insisted upon by the banks against their loans to JLGs It may however, be ensured that the mutual guarantees offered by the JLG members are kept on record Margin as per the norms prescribed by RBI, may be applied.

13 support extended by NABARD:

To facilitate promotion of JLGs, NABARD provides grant assistance to Banks and other institutions involved in promotion and nurturing of JLGs JLG promoting institute is expected to formulate a plan for a minimum of 20 JLGs Grant assistance of ` 2000 per JLG will be extended to banks for formation, nurturing and financing of JLGs over

a period of three years The first instalment of ` 1000/- would be released to the Bank/ other institutions after sanction of loan by the bank The second instalment may be released after commencement of repayment The third instalment may be released

in third year subject to certification of bank with regard to satisfactory repayment However, the grant to other institutions would be released, based on the certification by the banks as indicated above.

their lending to JLGs under investment credit and the procedure for claiming refinance from NABARD would be similar to that under SHG-Bank Linkage Programme.

Note: For further details banks/NGOs may contact nearest NABARD office.

Statements

STATEMENT – I - A

Progress under Microfinance – Savings of SHGs with Banks

Agency-wise position as on 31 March 2010

(Amount ` lakh)

Sr Total Savings of SHGs with Out of Total – Under SGSY Out of Total – Exclusive

No of SHGs Saving Amount No of SHGs Saving Amount No of SHGs Saving Amount

Progress under Microfinance – Bank loans disbursed to SHGs

Agency-wise loans disbursed during 2009-10

(Amount ` lakh)

Sr Loans disbursed to SHGs by Out of Total – Under SGSY Out of Total – Exclusive

No of SHGs Loans disbused No of SHGs Loans disbused No of SHGs Loans disbused

Progress under Microfinance – Bank loans outstanding against SHGs

Agency-wise position as on 31 March 2010

(Amount ` lakh)

Total Outstanding Bank Out of Total – Under SGSY Out of Total – Exclusive

1 Commercial Banks 3237263 2016471.21 798304 407203.07 2706634 1730867.35

2 Regional Rural Bank 1103980 614458.24 368795 172593.66 843697 467992.52

3 Cooperative Bank 510113 172898.62 78295 45310.97 347466 104176.45

STATEMENT – I - D

Progress under Microfinance - Non Performing Assets of Banks against SHGs

Agency-wise position as on 31 March 2010

(Amount ` lakh)

Non Performing Assests of Banks against Out of Total Bank Loans O/S and

Agency wise Bank Loans provided to MFIs during 2009-10 and

loans outstanding as on 31 March 2010

(Amount ` lakh)

No Name of the Agency FI to MFIs during the year MFIs as on 31 March 2010

Note : The actual number of MFIs would be less as some MFIs have availed loan from more than one bank.

NA = Not Available \ Not Reported

STATEMENT – II - A

Progress under Microfinance – Savings of SHGs with Banks Region-wise / State-wise / Agency-wise position as on 31 March 2010

(Amount ` lakh)

No Region / State No of Saving No of Saving No of Saving No of Saving

STATEMENT – II - B

Progress under Microfinance – Bank Loans disbursed during the year Region-wise / State-wise / Agency-wise Loans disbursed during 2009 - 2010

(Amount ` lakh)

No Region / State No of Loan No of Loan No of Loan No of Loan

NA = Not Available \ Not Reported

STATEMENT – II - C

Progress under Microfinance – Bank Loans Outstanding against SHGs Region-wise / State-wise / Agency-wise Loans Oustanding as on 31 March 2010

(Amount ` lakh)

No Region / State No of Loans No of Loans No of Loans No of Loans

STATEMENT – III - A (i)

Progress under Microfinance – Savings of SHGs with Public Sector Commercial Banks

as on 31 March 2010

(Amount ` lakh)

9 Indian Overseas Bank 54 640 3.00 16 181 1.00 48 566 2.00

10 Oriental Bank of Commerce 539 4814 42.98 268 2470 26.58 368 3504 29.52

11 Punjab National Bank 9822 98240 8604.28 5949 49500 390.68 7197 72000 6940.99

12 Punjab & Sind Bank 996 9968 85.65 506 5060 37.11 534 5348 48.78

13 State Bank of India 4669 51672 204.00 2548 27215 111.00 3922 31831 167.00

14 State Bank of Patiala 762 8119 61.72 491 5111 47.67 290 2925 17.47

8 Punjab National Bank 17320 155998 1323.36 797 7873 61.19 11694 116820 1039.75

9 Punjab & Sind Bank 92 920 11.62 43 430 5.46 53 530 6.73

10 State Bank of India 6148 73776 114.00 600 7205 10.00 4918 59021 91.00

11 State Bank of Patiala 1704 17561 100.68 96 1178 12.10 1136 11601 88.68

13 UCO Bank 960 11116 376.92 709 8154 364.60 750 8580 303.82

Total 26908 266227 2000.36 2681 29780 511.78 19112 202770 1575.29 Punjab

STATEMENT – III - A (i) (Contd.)

(Amount ` lakh)

10 Indian Overseas Bank 25153 276688 2076.00 18117 198558 1490.00 24147 265489 1812.00

11 Oriental Bank of Commerce 768 6146 63.15 248 2402 24.58 580 4727 51.80

12 Punjab National Bank 4002 41200 278.98 2051 20610 84.55 1919 19219 162.22

13 Punjab & Sind Bank 1069 11227 52.40 759 8009 28.54 721 7629 31.83

14 State Bank of India 3682 44184 86.00 792 9509 18.00 2946 35347 69.00

15 State Bank of Patiala 888 9994 94.73 462 5113 22.06 481 5309 48.28

3 Central Bank of India 20 190 2.60 20 190 2.60 15 190 1.62

4 Punjab National Bank 276 2525 10.28 188 1792 9.82 230 2200 7.51

5 State Bank of India 2063 23424 167.00 183 1512 17.00 1650 13243 133.00

11 Indian Overseas Bank 2054 24653 184.00 2014 24172 176.00 1972 23470 159.00

12 Oriental Bank of Commerce 808 4456 57.40 2 10 0.18 808 4456 57.40

13 Punjab National Bank 17665 194315 922.94 3012 33032 613.25 15383 169013 635.31

14 Punjab & Sind Bank 166 1660 8.08 166 1660 8.08 51 510 3.90

15 State Bank of Bikaner