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Insatiable appetite for credit
Banking sector in Tamil Nadu has made rapid progress, particularly during the last decade. The state’s share in the overall banking sector is impressive.

Chennai continues to be among the top five banking centres. With 1658 branches, total deposits mobilised by them are Rs.268,079 crore and the advances made are Rs.339,688 crore as on March 2015.

With 9090 branches operating, Tamil Nadu’s share in the total branch network is 7.5 per cent. Its contribution to the total volume of deposits is 6.3 per cent and share in the total credit lent by banks is much higher at 9.7 per cent. The credit-deposit ratio based on credit utilisation works out to be the highest at 120.6 per cent. As on March 2015, it had the second largest number of ATMs namely18,320, next only to Maharashtra. Ten per cent of the ATMs in India are operating in Tamil Nadu.

While the state’s population is 7.21 crore, banks in the state handle 9.82 crore deposit accounts, out of the total 122.67 crore deposit accounts serviced by the banking sector in India. Interestingly, out of 33.68 crore female deposit accounts serviced by the Indian banking sector, 3.57 crore accounts are in Tamil Nadu. While the banking sector has 33.68 crore of borrowing accounts, 3.57 crore of these are in Tamil Nadu.

All the 26 public sector banks, 11 private sector banks of the old generation and six banks of the new generation have their branches in Tamil Nadu. Besides these, there are two regional rural banks having 476 branches. Pandyan Grama Bank, sponsored by Indian Overseas Bank, was established in 1977. Indian Bank promoted Pallavan Grama Bank in 2006. New entrant to the banking sector, Bharathiya Mahila Bank, also has its presence in the state through four branches. Almost all the foreign banks operating in India have their branches in Chennai.

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