The 72nd J&K State Level Banker's Committee meeting to review the performance of financial sector in the state was held in Jammu today. The meeting was presided over by Dr Haseeb A Drabu, Chairman J&K Bank and Convener SLBC. Senior government functionaries, Regional Director RBI, Chief General Manager NABARD, representatives of development agencies and all banks/financial institutions operating in the state attended the meeting. Speaking on the occasion, Dr Drabu said, "The banks must re-look into the areas of low-credit disbursement and absorption in the state and evolve a mechanism to augment flow of credit for prosperity and progress of the people". However, he added that the performance of financial sector in supporting the priority sector has considerably improved as compared to the previous experience. While highlighting the overall performance of the banks for the period ended 30th September 2007 he said the banks have disbursed an amount of Rs. 1016.77 crore in favour of 51,992 beneficiaries against Annual target of Rs. 1528.80 crore for 1,62,299 beneficiaries. Out of which J&K Bank alone has contributed Rs. 490.21 crore during the period under review as against allocated aggregate annual target of Rs 628.28 crore for the Bank. With this the total advances of J&K Bank have increased to the tune of Rs 7700.51 crore against the total deposits of Rs 14877.81 crore and the bank has achieved the CD Ratio of 51.76%, with the state average being 45.88%. Giving details of the credit flow he pointed out that the Retail Trade Sector dominates other sectors by absorbing Rs. 292.69 crore followed by Small Enterprises Sector with an amount of Rs. 288.73 crore, Agriculture with an amount of Rs. 239.34 crore, Micro-Credit with an amount of 104.9 crore, Housing with an amount of Rs. 67.43 crore and the least share has gone to Education Sector with Rs 23.69 crore. While analyzing quantum wise disbursements in Agriculture and Small Enterprise Sector the major contributor has been J&K Bank with Rs 154.59 crore and Rs. 123.42 crore in the respective sectors. Expressing hope Dr Drabu said that the initiatives for financial inclusion taken in the state particularly by J&K Bank are expected to extend immense benefits of financial sector to the so far neglected segments of society besides unbanked areas of the state. While discussing the problems faced by the banks in disbursing loans under government sponsored schemes under which the banks have disbursed an amount of 61.40 crores during the period under review, Dr Drabu reiterated need for evolving an effective mechanism both for credit dispensation and debt recovery involving the financial institution as well as the sponsoring agencies.