2011-03-27 21:09:21 UTC
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
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
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.