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| DC Srinagar chairs District Level Review Committee meeting | | | Early Times Report
SRINAGAR, Aug 27: Performance of banks in Srinagar will be reviewed every month from September. The aim will be to facilitate reconciliation and coordination and help resolve issues surrounding sponsorship cases between banks and line departments.
This was informed in the District Level Review Committee (DLRC) meeting of Lead Bank Office Srinagar the District Development Commissioner Dr. Shahid Iqbal Choudhary chaired Tuesday to review the progress of banks during the first quarter of 2019-20 fiscal.
It was decided that the meetings will be held in the offices of banks with each meeting to focus on the performance of the bank where the meeting will be held.
The meeting reviewed the performance of banks in the areas of deposits and advances, besides reviewing the sector-wise performance under the District Credit Plan 2019-20. Status of their achievements in the area of implementation of various government schemes were also reviewed during the meeting.
The meeting was informed that under the District Credit Plan 2019-20 amounts of Rs. 401 crore and Rs. 1085 crore have been disbursed under various schemes in the priority sector and the non-priority sector respectively by the end of the first quarter of the 2019-20 fiscal. It was informed that the total disbursements at the end of this first quarter in the district amount to Rs. 1486.
It was also informed that the Credit Deposit Ratio (CDR) in the district at the end of quarter ending 30 June 2019 stands at 54%, adding the total deposits and advances by the end of the quarter include 23,258 and 12,636 crore respectively.
The DDC emphasised that banks must be positive and instrumental in credit dispensation and increase the CDR to the benchmark level fixed by the RBI. He called on all banks to increase lending under all sectors in the district.
All banks were instructed to play their role as identified under CSR and direct the fixed percentage of profits towards the development of the district as mandated upon them under the Companies Acts. The banks were asked to ensure contribution towards development and upkeep of important roads in the district under Corporate Social Responsibility from March next year. |
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