J&K bank has once again displayed its commitment to uplift the backbone sectors of state's economy by over achieving its target of extending credit to the priority sector, thereby outperforming all other banks operating in the state. This was clearly reflected by the credit disbursement figures for the financial year 2008-09 released at the 76th meeting of State Level Banker's Committee (SLBC) held here at SKICC today. While Dr Haseeb Drabu, Chairman, J&K Bank and convener SLBC presided over the meeting, Mr SS Kapoor, Chief Secretary, government of Jammu and Kashmir was the Chief Guest on the occasion.

"As against the total Annual Credit Plan (ACP) outlay of Rs.1911.41 Crore to the priority sector in the J&K State for the financial year 2008-09, various banks operating in the State have recorded total credit disbursement of Rs.1938.37 Crore for the financial year ended 31st March 2009, thereby reflecting overall achievement of 101%. The J&K Bank alone has disbursed credit of Rs.1198.18 Crore to priority sector thereby far surpassing the allocated annual aggregate target of Rs.836.13 Crore for the bank thereby recording an achievement of 143%". This was disclosed by Dr Drabu while addressing the committee members.
The Chairman in his welcome address and presentation commented that the performance of banks in the State in supporting and financing the priority sector has be slightly down as compared to the corresponding period of the previous year attributed partly to the disturbances derailing the economic activities in the State and partly to the impact of economic slow down. He impressed upon the banks to improve their performance and involvement so that the flow of credit is enhanced and the trend is maintained as intended.

Expressing concern over the poor credit dispensation in key sectors of the two major divisions of the state, Drabu said, "Poor lending in Agriculture sector in Kashmir division and less exploitation of micro-fiance potential in Jammu region is really something we should address."
Complimenting J&K Bank for over achieving the plan targets, Chief Secretary S S Kapoor stressed on the need to work for promoting RSETIs model in the J&K State to ensure building and enhancing entrepreneur skills.

The Chief Secretary expressed his displeasure over the thin participation from the Government side. "These are matters that pertain to government and absence of government officials in the meeting reflects lack of commitment on their part in discharging their duties towards socio-economic development of the state", Mr Kapoor emphasized.
Responding to Chief Secretary's call for establishing Rural Self Employment Training Institutes (RSETIs), Dr Drabu announced setting up of six RSETIs across the state during the current financial year. SBI officials also announced their decision to set up two RSETIs in the state.
Earlier Dr Drabu welcomed Mr Arnab Roy, regional Director, RBI and Mr Sukhdeve, CGM, NABARD for their maiden presence in the J&K SLBC meet.
Among others present on the occasion included Principal Secretary Industries and Commerce, Mr. Anil Goswami, Commissioner/ Secretary Finance, Mr. Sudhanshu Pandy, Executive Directors of J&K Bank, heads of various government departments/ development agencies and senior functionaries of major banks/ financial institutions operating in the State.