 early times report
Srinagar, Aug 29: Out of the total credit disbursement of Rs 2,859.24 Crore disbursed by banks in the State during Q1 of current FY, J&K Bank alone has disbursed Rs 1,913.07 Crore which accounts for 67 % of the total credit disbursed by all banks while as the remaining 33 % of total credit was disbursed by all other 39 banks operating in J&K.
Mushtaq Ahmad, Chairman and CEO J&K Bank (Convenor J&K SLBC) stated this while presiding over the 90th State Level Bankers' Committee (SLBC) meeting held here at SKICC today. J&K bank has extended Rs 1223.94 Crore and Rs 689.13 Crore to the priority and non-priority sectors respectively, he added.
Chaired by M Iqbal Khanday, Chief Secretary J&K Government, the meeting was attended by B B Vyas Principal Secretary Finance, B R Sharma, Principal Secretary Planning, S K Jindal Director (DFS) Ministry of Finance (GoI), Dr B G Mukhopadhyay CGM NABARD, Representatives of RBI, Commissioner Secretaries, HoDs of various departments, SIDBI, Public Sector Banks, RRBs and other institutions.
Chief Secretary M Iqbal Khanday stressed upon the bankers and other line departments to keep up their efforts so that the targets are achieved within the stipulated time frame. Earlier, during his keynote address Mushtaq Ahmad said, "Inclusive growth is the secret of India's success and it is driven by the Financial Inclusion programme which is being seriously pursued across the state."
He informed the meeting that only 6 villages remained to be covered due to lack of connectivity in the Phase-I of the Financial Inclusion Plan against the target of 795 unbanked villages having population over 2000 in the State.
In the 2nd phase of FIP against 5,582 identified villages having population below 2000 in J&K State, to be covered during 2012-13, 2013-14, 2014-15 and beyond 2015, 1,677 villages had been covered up to 30th June 2013, he added. He termed the increase of 3.69% in the Credit-Deposit Ratio (CDR) of all banks operating in the state as encouraging, which stood at the end of Q1 of current FY at 39.40% as against 35.71% during the corresponding period of previous year. The CD Ratio of J&K Bank for the quarter under review is 42.72%.
Notably, Governor, RBI had prescribed the CD Ratio of 40% for state to be achieved by end of FY 2013-14. After serious deliberations over credit dispensation in Kissan Credit Cards (KCC), the deadline for achieving the target was extended to 31st March, 2014.
Expressing concern over the dismal performance of banks under five major Govt. Sponsored Schemes, viz. NRLM (SGSY), PMEGP, SJSRY, JKSES and SC/ST/OBC, Chairman said, "The achievement is not satisfactory. This should again be an issue of consuming priority for the SLBC. Besides achieving quarterly targets, cases pending with the banks must be disposed off at earliest." |
