'Goa's banking services best in India' TNN | Mar 27, 2011, 05.57am IST PANAJI: Goa has witnessed a boom in the banking sector and the number of banking offices was 556 on September 30, 2010, states the economic survey 2010-11. "There is a scheduled commercial bank branch for approximately every 4,148 people in Goa as against the all-India average of 14,683 people," the survey states.
As per the figures provided in the survey, Himachal Pradesh-with an average population of 7,035 people per branch-and Punjab with 8,377 people come a close second and third respectively. The average of Sikkim, Kerala and Uttarkhand is below 9,000, while other states range between 10,000 and more up to 29,913. Among the union territories, Chandigarh has the best average of 5,106, while Lakshadweep has 6,818 and Delhi has 8,133. After liberation, Goa's banking sector grew phenomenally. "This (the figures) show that Goa has the best banking services compared to all other states and union territories in the country," the survey report states. There were hardly five banking offices in 1962, but by the time Goa was granted statehood in 1987, the number grew to 300. "The aggregate deposits registered a phenomenal growth from 9 crore in 1962 to 26,045 crore in 2008-09 and to 29,506 crore in 2009-10," according to the survey. During 2008-09, domestic savings registered an annual growth of 30%, while NRE deposits dropped to 3% as compared to the previous year. In 2009-10, the annual growth rate of domestic and NRE deposits stood at 14% and 10% respectively. The number of nationalized bank branches increased by 5.13% over the previous year, while the number of private sector banks and cooperative bank branches increased by 21.31% and 7.20% respectively. The percentage increase in deposits for nationalized banks, private sector banks and cooperative banks is 42.49%, 72.04% and 56.30% respectively. "Similarly, the percentage increase in credits for nationalized banks and cooperative banks is 56.99% and 60.10% respectively, whereas for private sector banks it decreased by 9.41%," the report states. The credit deposit ratio has decreased from 31 in September 2009 to 30 in September 2010. Notably, cooperative banks topped the list as far as credit deposit ratio is concerned followed by nationalized banks, while private sector banks recorded a credit deposit ratio of 20. http://timesofindia.indiatimes.com/city/goa/Goas-banking-services-best-in-India/articleshow/7796528.cms
