SRINAGAR: The Banks Jammu & Kashmir have disbursed an amount of Rs 8,289.16 crore upto June 30, 2019 thereby achieving 24.90 pc of the target fixed under Annual Credit Plan 2019-20, out of which J&K Bank has contributed 69.27 pc of the total credit disbursed during the period.
R.K Chhibber and MD stated this in the 110th JK State Level Bankers’ Committee (SLBC) meeting held here today.
J&K Government Chief Secretary B V R Subrahmanyam presided over the meeting that was attended by Financial Commissioner (Revenue) Dr Pawan Kotwal, Financial Commissioner (Finance) Dr. Arun Kumar Mehta, Chairman & MD J&K Bank (Convener J&K SLBC) R.K Chhibber, Principal Secretary Planning & Development Rohit Kansal, Principal Secretary Industries & Commerce Navin Kumar Chaudhary, Principal Secretary Animal Husbandry Dr. Asgar H. Samoon.
Regional Director, RBI, Thomas Mathew, Chief General Manager, NABARD P Balachandran, Deputy Secretary, DFS, MoF (GoI) A.K Dogra, Secretary Rural Development and Panchayati Raj Sheetal Nanda Deputy Commissioner Srinagar Shahid Iqbal Choudhary and other senior functionaries of the Government, RBI, NABARD, banks, LDMs, line departments, insurance companies, BSNL were also present on the occasion
In the meeting, Subrahmanyam expressed concern on the low Credit Deposit Ratio especially in the districts of Jammu division, where the CD Ratio has remained below 40 per cent.
Commenting that banks are the lifeline of overall economy, the Chief Secretary impressed upon the banks to focus on improving the credit disbursement especially under the employment generation schemes that are meant to contribute in the development of the country.
Financial Commissioner (Finance) Dr. Arun Kumar Mehta highlighted the importance of financial literacy camps and underlined the need to educate people and create awareness about social security schemes like PMSBY, PMJJY, APY besides PMJDY. Chhibber expressed hope that the meeting would be quite fruitful for all the participants under the guidance of Chief Secretary and would result in the resolution of various issues faced by the banks.