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| Bankers not friendly in lending | | | Early Times Report
Jammu, Oct 20: Even as the Bankers are making quite good money in Jammu and Kashmir but they are dithering from their social responsibility, particularly lending credits to the aspiring entrepreneurs under the government sponsored schemes. An admission to this dismal phenomenon has been made by no less than the Finance Minister Abdul Rahim Rather who presented a disappointing statistics sheet.
Rather said that bank-wise and sector-wise analysis of lending to various sectors reveals dismal performance in agriculture and micro-credit. “Only 37% beneficiaries have been covered and a mere Rs 96.58 crore to 14128 beneficiaries against the target of Rs 205.92 crore is reflective of lack of seriousness and commitment”, he said.
Mr Rather also expressed disapproval over 33% performance in the micro-credit sector during last fiscal. He said against an annual target of Rs 438.56 crore to 18568 beneficiaries only Rs 144 crore has been registered during 2008-09, affecting employment opportunities in this potential sector adversely. He, however, appreciated the performance in small industrial sector, retail trading and housing sector, and called for maintaining the momentum.
The Minister analysed the performance of the banks under SGSY and Prime Minister’s Employment Generation Programme also and dwelt in detail on the dismal performance of the Banks. He said, “ against a target of 695 cases involving Rs 16.61 crore, clearance of only 155 cases with financial implication of Rs 3.18 crore during last fiscal is a reflection of the dismal performance”, while stressing on sincere and sensitive approach to implement this highly popular employment generation scheme in letter and spirit.
Mr Rather also disproved the notion that NPA component of loans under government sponsored schemes in very high. He asked the participants of the meeting to address the issue of irregularities in identifying beneficiaries, if any as the notion of malpractices increases pendency and rejection rate. He called for formulation of a well-knit roadmap in this regard.
The Minister said a special monitoring committee under Director, Institutional Finance shall monitor the programme of intended flow of credit under Annual Credit Plan with special reference to allocations under government sponsored schemes and the decision of today’s special SLBC meeting to ensure better co-ordination of all issues as well.
The Minister also inaugurated two HDFC bank branches and Barzulla and Karanngar, later. While making round of the computerized sections of the twin bank branches, the Minister said that these financial institutions would facilitate the public, especially the entrepreneurs in setting up their ventures.
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