Balbir reviews recovery status, implementation of schemes

JAMMU, FEB 14: Balbir Ram Rattan, Vice Chairman, Jammu and Kashmir Scheduled Castes, Scheduled Tribes & Backward Classes Development Corporation Limited, in a meeting held at the Corporation Head Office, took a review of recovery of loans advanced under Direct Financing Schemes in collaboration with various National Level Corporations and also implementation of welfare schemes meant for the economic upliftment of the weaker sections in the state.
Mohd Iqbal Kataria, Manager Projects; K L Bhagat, Manager Recovery and Mohinder Paul, Statistical Assistant apprised the VC that the Corporation so far has disbursed loans to the tune of Rs 84.68 crores since inception under Direct Financing Schemes by covering 5798 beneficiaries in different activities in the State. It was apprised by Manager Recovery that Corporation has recovered Rs 31.05 crore so far and during current financial year an amount of Rs 4.15 crores has been recovered up to ending December 2017. The VC instructed Manager Recovery to regularly monitor the recovery progress of each District and apprise the Management for timely action where default is reported. He said that recovery of loan is backbone of the finance and all District Managers should be instructed to take necessary steps to ensure that every month the recovery target is achieved.
Manager Projects briefed that Corporation is implementing various welfare schemes for the upliftment of Scheduled Castes, Scheduled Tribes, Backward Classes, Notified National Minorities, Safai Karamcharis and Handicapped categories, in collaboration with National Level Corporations and funds under all categories are available with the Corporation and allocation of funds as per population of target groups has already been made to each District.