A Special SLBC meeting for monitoring the implementation of IBA package on flow of credit to MSMEs, Housing and Auto sectors was also held yesterday in Jammu. The meeting was presided over by A.K.Mehta , Executive Director of J&K Bank and attended by Umang Narula, Commissioner/Secretary, Industries & Commerce, Mr. Mushtaq Siddiqi, Special Secretary Finance, N. K. Sahu, DGM, Reserve Bank of India, representatives of various banks/ financial institutions operating in the State. Shakeel Qalander, Chairman, Federation, Chamber of Industries, Kashmir, Nazir Ahmad Dar,President, Kashmir Chamber of Commerce & Industry, Y.V.Sharma Jammu Chamber of Commerce, and representative of Federation of Industries Jammu also attended the meeting.
It was disclosed in the meeting that under the IBA package on MSMEs, Housing & Auto Sectors, banks operating in the State have up to the end of November, 2010 sanctioned working capital loans (new) to the extent of Rs.955.55 Crores in favour of 17875 beneficiaries and incremental working capital loans amounting to Rs.447.01 Crores in favour of 4529 existing units.
Banks in the State have so far restructured 6585 MSMEs accounts involving an amount of Rs.377.33 Crores. Soft Loans for D.G.Sets to the tune of Rs.5.31 Crores have been sanctioned in favour of 551 beneficiaries. Housing Loans to the tune of Rs.723.49 Crore have been sanctioned in favour of 25751 beneficiaries and auto loans to the tune of Rs.554.51 Crore have been sanctioned in favour of 16635 beneficiaries during the 8 months period ended November, 2010.
The performance of banks/financial institutions operating in the state in extending credit to priority sector for the half year ended September, 2010 under Annual Credit Plan (ACP) 2010-11 was also reviewed in the meeting.