Jammu, Dec 21: Chairman of the Jammu and Kashmir Bank and convenor State Level Bankers’ Committee Parvez Ahmad on Thursday said that the bank has contributed 73 percent to total disbursement under Annual Credit Plan.
Ahmad said, “Banks operating in the State have extended a total credit of Rs.10,950.72 Crore in favour of 3,97,058 beneficiaries during the first half of CFY ended September 30, 2017 against annual target of Rs.28,841.64 Crore for 9,66,047 beneficiaries under Annual Credit Plan 2017-18, thereby registering achievement of 38%in financial terms and 41% in physical terms. J&K Bank alone he added has disbursed Rs.7,985.93 Crore during the period under review, which makes for 73 pc of the total credit extended by the 43 banks and financial institutions operating in the State”.
The Chairman expressed his gratitude to the Chief Secretary B B Vyas for his proactive intervention to resolve various outstanding issues like allotment of land to RSETIs & Farmers Training Centres besides ensuring that Deputy Commissioners of 6 districts of Srinagar, Kupwara, Pulwama, Leh, Udhampur and Rajouri join the meeting through video conferencing, whereas two Deputy Commissioners of Jammu and Samba attended the SLBC meeting in person.
He further added that the initiatives taken by the Chief Secretary will act as enablers to sort out various issues like Digitization of revenue records, Low Credit Deposit Ratio in certain districts of the State, poor performance under Government Sponsored Schemes and dismal performance under some important segments of Priority Sector of public concern,
“Most of the banks were not focusing on priority sector lending which is the thrust area of the Government as the achievement under priority sector lending was only 30% as compared to 56% in non priority,” he added.
Urging upon the banks to take the targets under Annual Credit Plan especially priority sector seriously for achievement he asserted that except for the J&K Bank none of the Banks were near achievement of Priority sector lending targets.
He also delineated the achievements under various sectors viz. agriculture 38%, Micro, Small & Medium Enterprises 32%, Education 13.48% and housing 14.64%.
Chief Secretary B B Vyas pointed out that despite having huge potential, the credit off-take under Housing & Education Sectors remained low and advised the Banks put in concerted efforts to improve disbursements under these sectors.
He directed the Revenue Authorities to fast track digitization of land records to obviate delay caused in obtaining revenue extracts which affects the lending especially under Housing Sector.
Appreciating the role played by J&K Bank for acting fast on Government directions to make Aadhar enrolment cum updation centres functional in its 82 branches against a target of 83 branches Chief Secretary desired that the J&K Bank increase the designated branches to which the Chairman J&K Bank promptly agreed to increase to 100.
He advised other banks to make their designated branches functional at the earliest to expedite 100 percent Aadhar enrolment in the state, the government he said has already issued 97 lakh Aadhaar Cards and activated the Social Welfare/ICDS Setup/school education set up by capacity building to commence Aadhar enrolment from January, 2018.
Expressing concern over low Credit Deposit Ratio in some districts Vyas directed all the stakeholders including the Lead District Managers to introspect and take necessary corrective measures for improving the penetration of credit.
It was decided during the deliberations of various agenda items to constitute two separate committees comprising members from Banks, Government Departments and other stake-holders one to look into the issues of documentation in Housing & education loans and other one to come up with reasons and remedial measures for huge pendency/rejection in the government sponsored cases.
The house, on being apprised by the Convenor SLBC about the various representations received from different trade and tourist associations on the hardships faced by them due to lack of recovery in economic activity and impending repayments, unanimously resolved to request the Central Government and the Reserve Bank of India to work out such measures as may be appropriate to extend support to trade and businesses affected by the unprecedented floods of 2014 and abnormal circumstances in 2016 in J&K.
Convenor SLBC Parvez Ahmed concluded by assuring the Government on behalf of all the member banks to extend complete support for framing and effectively implementing programmes aimed at entrepreneurial development, livelihood generation and poverty alleviation in the state.