Banks in Karnataka region have been able to disburse loans worth Rs 31,020 crore as priority sector loans. The target given was however of the amount of Rs 34,940 crore thus giving a picture that 88.7% of the target has been achieved.

According to Basant Seth, chairman and managing director, Syndicate Bank, and chairman of State Level Bankers Committee (SLBC), Karnataka, the performance review of the banks for the last fiscal indicated credit disbursal worth Rs 20,368 crore to the agriculture sector during the financial year.

"Other states in southern India have shown better growth in the agriculture sector. This year, with good rains taking place, we expect banks to disburse much higher amounts and targets will be fixed accordingly," he said.

The outstanding loans in the priority sector amounted to Rs 76,320 crore. Advances to small and medium scale enterprises amounted to Rs 27,224 crore.

Seth also said that all banks have given their plans for financial inclusion. Karnataka currently has 3,290 villages which have a population of more than 2000 and have till now not been touched by banking facilities.