CS chairs SLBC meet; Seeks greater credit flow to key economic sectors
Rs 21822 credit facility extended by banks in JK during first 3 quarters of current fiscal
JAMMU, FEBRUARY 07: Chief Secretary B V R Subrahmanyam today constituted a high-powered committee to look into the impedimentshampering smooth flow of credit to Agriculture, Housing and MSMEs Sectors through banks.
Chairing 109th State Level Bankers’ Committee meeting here, the Chief Secretary pointed out that despite having huge potential, the credit off take under Agriculture, Housing and MSMEs Sectors has remained low. He impressed upon the banks to put in concerted efforts so that credit disbursement to these sectors is substantially improved.
In order to address the issue, the CS constituted a Committee headed by the Principal Secretary Finance and senior functionaries from the state government and major banks as its members. The committee would look into the difficulties in sanctioning loans to the beneficiaries across the state.
The Chief Secretary directed all the district bank leaders for analyzing the data and submitting a comprehensive report regarding the low performance in agriculture Housing and MSMEs sectors of the state.
He directed all the bank leaders for sensitizing bankers across the State about Pradhan Mantri KissanSamman Nidhi (PM-KISAN) scheme so that smooth implementation of scheme is ensured.
Principal Secretary Transport, Animal Sheep Husbandry and Fisheries Dr Asgar Hassan Samoon, Principal Secretary Finance NavinK Choudhary, Principal Secretary, Industries and Commerce, ShaleenKabra, Principal Secretary, Housing and Urban Development, Dheeraj Gupta, Financial Commissioner, Revenue Dr Pawan Kotwal, Chief General Manager NABARD, P Balachandran, Regional Director RBI Thomas Mathew and Chairmen & ECO J&K Bank Parvez Ahmad besides other senior functionaries of the state government, banks, NABARD, Insurance Companies and the Deputy Commissioners of all the districts participated in the meeting.
Earlier, J&K Bank Chairman and CEO (Convener J&K SLBC) Parvez Ahmed, while welcoming the Chief Secretary on behalf of all the bank management expressed optimism in his guidance for resolution of issues of bankers’ forum with innovative conduct in the backdrop of his exemplary experience.
While briefing about the credit scenario in the state, he said “Banks operating in J&K have extended a total credit of Rs 21,821.98 Crore in favour of 6,20,993 beneficiaries both under Priority as well as Non-Priority Sector of economy during the first three quarters of Financial Year 2018-19 therebyachieving 68.84 pc of the ACP target in Financial terms and 58.11 in physical terms.
It was given out that under Priority Sector Banks have disbursed credits of Rs. 11,511.35 Crore in favour of 3,78,257 beneficiaries against the annual target of 23,741,91 Crore for 8,39,476 beneficiaries thereby achieving 48.49 pc of the target in financial terms and 45.06 pc in physical terms.
Under Non-Priority Sector Banks have disbursed credit of Rs. 10,310.63 Crore in favour of 2,42,736 beneficiaries against the target of Rs. 7,955.70 Crore for 2,29,210 beneficiaries thereby aching 129.60 pc of the target in financial terms and 105.90 pc in physical terms.