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| Omar asks banks to issue credit cards to farmers by October | | | Early Times Report
Srinagar, May 28: Jammu and Kashmir Chief Minister Omar Abdullah today directed banks to issue Kissan Credit Cards (KCCs) to all farmers in the state by first week of October. The banks in the state should fulfil 100 per cent achievement in the issuance of KCCs to farmers so that they can avail of the loans for agriculture operations, he said according to an official spokesman after 85th meeting of the State Level Bankers' Committee (SLBC) here today. "You should constitute sub-committees to monitor this aspect and the aspect of lending loans to the priority sectors in a hassle-free manner," Omar said. He also directed for identifying zonal level nodal banks for ensuring issuance of KCCs. He said noteworthy achievement has not been registered on this significant front which directly relates to the State's agriculture economy and the welfare of peasant fraternity. Omar said artisans, small entrepreneurs and others in education, micro credit, employment generation and agro allied sectors should be extended loans. The Chief Minister asked the bankers to strike balance in the credit flow and the deposits ratio to ensure focused attention on priority sectors like agriculture, handicrafts, education, entrepreneurship development and micro credit to give fillip to state's economy.
The growth registered in the deposits should necessarily reflect its positive impact on the credit flow to ensure benefits to the people especially in the priority sector, Omar said.
"When there will be gap between deposits accumulation and credit flow then an important question arises for bankers to explain. It is also difficult for the government and the people to understand this hiatus in the process of normal banking procedure and practice," he said. |
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