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| 12 new JKB branches coming up in Budgam this year Rs 161 cr Credit Action Plan sanctioned for Budgam | | |
EARLY TIMES REPORT
BUDGAM, Aug 24:
A credit of Rs 161 crore is being advanced to about 14280 micro and small income generating units in district Budgam under current year’s Credit Action Plan.
Of, this, a credit of Rs. 1.21 crore shall be provided under priority sector. Meanwhile, a credit of Rs. 46 crore has been advanced to establish 1956 units in the first quarter of the current fiscal amounting to 27% of the total target.
This was stated at the 36th meeting of the District Level Consultative Committee (DLCC) which was held at Budgam today to review the achievements of Credit Action Plan during the first quarter of the current fiscal.
The District Development Commissioner, Budgam, Mohammad Rafi, who is also chairman of the DLCC, presided.
Rafi informed that 8 bank branches of Ellaqai Dehati Bank, which were closed in 1990s due to turmoil, have now been reopened in the district, adding that 4 new branches of J&K Bank have been opened in the district this year so far. He said 8 more new J&K Bank branches shall be opened in various areas of the district by the end of December this year. He said district administration is endeavouring to provide bank credit facilities to maximum people adding that the credit deposit ratio has increased from 47% to 50% this year.
The meeting among representatives of various banks and financial institutions, was attended by the cluster head J&K Bank, Budgam,. Waqar Nazki, Joint Director, Planning, Sheikh Mohammad Ismail, Regional Representatives of RBI and NABARD, Wattal and Ramesh Chander.
While reviewing the financial position and advance portfolio of various Banks working in the district, it was informed that J&K Bank has a deposit of Rs 719 crore against advances of Rs 363 crore till date whereas SBI has Rs 41.64 crore deposits against advances of Rs 21.88 crore, state cooperative bank having Rs 59.67 crore deposits against loan advances of Rs 30.54 crore. |
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