To review the performance of banks and line departments for fourth quarter (Q4) of last financial year under Annual credit Plan and Govt Schemes, J&K Bank conducted a District Level Review Committee Meeting/District Consultative Committee (DLRC/DCC) meeting in Kulgam. District Development Commissioner (DDC) Kulgam Dr. Bilal Mohi U Din Bhat (IAS) chaired the meeting that was attended by CPO, DDM NABARD, and District Officers of line departments besides District Coordinators of various banks.
Speaking on the occasion, LDM Arshad Qadri informed the house that deposits of the banks stood at Rs 2253.75 Cr on March 31, 2022 witnessing growth of 8.16% over March 2021 figures, while as the advances were at Rs.1745.89 Cr registering growth of 8.85% over figures recorded last year on March 31, 2021.
“Under District Annual Credit Plan (2021-22) of Rs.1398.24 Cr, Banks have disbursed Rs. 1119.99 Cr to 48776 beneficiaries thus achieving 80% of ACP target. The Credit Deposit Ratio at 77.47% stood quite above National Bench Mark of 60%”, he said.
While reviewing sector wise achievements, DDC Dr Bilal Mohi U Din Bhat advised the banks to improve credit dispensation in Agriculture, MSME, and increase focus on housing and education sectors.
Notably, the district has over achieved/achieved the annual targets of PMEGP, JKREGP, Artisans/Weavers Credit Card and PM Weavers Mudra Scheme. The district has sponsored 119 vehicles till date under Mumkin Scheme besides sponsoring 46 Tejaswani cases till date.
Besides appreciating the progress of banks, Chairman DLRC impressed upon the participants to improve direct financing in order to achieve the set targets of the Annual Credit Plan. He urged the line departments to cover all eligible persons under PMSBY, PMJJBY and APY.
Meanwhile, at the outset, the house observed two-minute silence to pay homage to the departed soul of EDB Branch Manager, Vijay Kumar, who was martyred while performing his duties.
The meeting ended with vote of thanks from LDM