 Early Times Report
Srinagar, Aug 26: Banks operating in J&K State have extended credit aggregating to Rs.5,801.24 crore during first quarter of FY 2015-16 registering an achievement of 25% of the given target. J&K Bank alone has disbursed Rs.4,194.09 crore, which accounts for 72% of the total credit disbursed by all 46 banks/Financial Institutions operating in the State.
This was revealed by Mushtaq Ahmad, Chairman & CEO, J&K Bank, who is also Convenor J&K SLBC, while presiding over the 98th meeting of J&K State Level Bankers' Committee (SLBC) today at SKICC Srinagar. The meeting was attended by Ramesh Chand, General Manager Reserve Bank of India, A. K. Dogra Dy. Secretary, Department of Financial Services, Ministry of Finance, GoI, Commissioners/ Secretaries of State Government, senior officers of banks, Reserve Bank of India, NABARD, State Government Departments & developmental agencies and representatives of various insurance companies .
Mushtaq Ahmad while taking review of the performance of the banks for the quarter ended June 30, 2015, stated that J&K SLBC is making concerted efforts to implement various initiatives taken by the Central and State Government for the overall economic development of the State.
The Chairman stated that the financial inclusion programme has got focused attention after Prime Minister declared this as a national mission for implementation through special programme "Pradhan Mantri Jan Dhan Yojana'. "Under this programme banks have opened 16.84 lakh fresh accounts upto 31st July 2015 and issued RuPay Debit Cards to 14.31 beneficiaries under the scheme" Chairman revealed.
Laying emphasis on Banking Correspondent (BC) model to further the cause of financial inclusion, A.K Dogra Dy. Secretary, Department of Financial Services, Ministry of Finance, GoI urged the banks to make BC model more viable by increasing the number of BCs and bringing in more people , especially from remote and unbanked segments, into the fold of formal financial system.
Ramesh Chand, GM RBI laid emphasis on financial literacy initiatives and urged the member banks to regularly organize such camps to take the message forward. |
