Performance under some major sub-sectors of Priority Sector
Under Agriculture Sector the banks have provided credit aggregating Rs.4,295.52 Crore in favour of 2,25,552 beneficiaries upto 31st December 2017 thus registering an achievement of 56% in financial terms.
Under Micro, Small & Medium Enterprises Sector, banks have disbursed total amount of Rs.3,816.77 Crore in favour of 93,039 beneficiaries thereby registering an achievement of 51% in financial terms.
Under Education Sector banks have disbursed an amount of Rs.107.85 Crore in favour of 5,375 beneficiaries registering an achievement of 24% in financial terms.
Under Housing Sector, banks have disbursed credit amounting to Rs.763.34 Crore in favour of 11,915 beneficiaries thereby registering an achievement of 29% in financial terms.
In order to facilitate dispensation of credit through mortgage loans and boost credit deployment to Housing and Education sectors, Chief Secretary directed all the Deputy Commissioners to complete the process of digitization of land records in a time bound manner.
Taking note of aggregate Credit Deposit Ratio of 49% of the State, the Chief Secretary directed all the stakeholders to work in a coordinated manner to ensure that Credit Deposit Ratio of 60% as prescribed by Governor, Reserve Bank of India, is achieved by the end of March, 2018. He also directed the Deputy Commissioners of the districts having CD Ratio less than 40%, to formulate necessary strategies so that the CD Ratio of these districts is substantially improved.
All concerned banks/ Government agencies were advised to operationalize all their designated branches/ centers for Aadhaar enrolment-cum-updation facility immediately. Banks were also directed to expedite the process of seeding of Aadhaar in bank accounts well before 31st March, 2018, so that people are not put to any inconvenience on this account.
House noted that 100% coverage of farmers under KCC Scheme has already been completed in Kashmir Division, but in Jammu division there is a pendency of 49000 cases. Chief Secretary emphasized that all the stakeholders should put in strenuous efforts to ensure that the process of 100% coverage is completed immediately in Jammu Division also.
Expressing concern that EBT Scheme has so far been implemented in only 16 districts of the State for IGNOAPS, all the stakeholders were directed to ensure that the process of validation of accounts in the remaining six districts of Budgam, Anantnag, Kulgam, Poonch, Reasi and Kathua is completed expeditiously, so that the entire State is brought under the ambit of EBT Scheme.
Principal Secretary Finance Navin Kumar Chowdhary emphasized that the targets set under the Annual Credit Plan should be in synchronization with the available potential. In this regard a Sub-Committee under the Chairmanship of Chief General Manager NABARD was constituted to finalize and approve the Annual Credit Plan for J&K State for FY 2018-19 so that the same is launched for implementation across the State w.e.f. April, 2018.
Chief Secretary impressed upon the banks and other agencies to work in tandem for economic upliftment of the J&K State, so that people of the State in general and the underprivileged sections of the society in particular are benefitted. He emphasized that while pursuing the targets allocated under the Annual Credit Plan, banks should focus more on achievement of targets under Priority Sector.
Kashmir Images is an English language daily newspaper published from Srinagar (J&K), India. The newspaper is one of the largest circulated English dailies of Kashmir and its hard copies reach every nook and corner of Kashmir Valley besides Jammu and Ladakh region.