ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Barren Fruits of Political Realism

and a public issue of Rs 5 crore, both at par. CENTRAL BANK OF INDIA, holding the number two position among the nationalised banks, made a record profit of Rs 24 crore in 1986 against Rs 6.75 crore in the previous year. Its total deposits as on December 31, 1986 stood at Rs 7,135 crore. Speaking to reporters at a press conference in Bombay on March 31, Central Bank of India's chairman and managing director M N Goiporia said that it transferred Rs 3.07 crore as dividend to the union government. Total credit at the end of 1986 stood at Rs 3,821 crore showing an increase of Rs 356 crore or 9.3 per cent during the year. Priority sector credit rose by Rs 185 crore to Rs 1,572 crore at the end of the year, an increase of 43.6 per cent which is substantially higher than the norm of 40 per cent. Similarly the share of direct agriculture in net credit was 15.3 per cent against the norm of 15 per cent. The share of weaker sections was 11 per cent. Scheduled caste and scheduled tribe beneficiaries claimed 52 per cent of the total credit disbursed under differential rate of interest scheme, against the stipulated norm of 40 per cent.

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