Smooth credit flow imperative for development: Chief Secy

Chief Secretary BB Vyas chairing State Level Bankers’ Committee meeting at Jammu.
Chief Secretary BB Vyas chairing State Level Bankers’ Committee meeting at Jammu.

*Chairman impresses upon achieving set ACP targets

Excelsior Correspondent

JAMMU, Feb 21: J&K Bank today convened 107th meeting of J&K State Level Bankers’ Committee (SLBC)  here today.
The meeting was presided over by  BB Vyas, Chief Secretary  while other  prominent dignitaries who attended  included Financial Commissioner, Housing & Urban Development Department  KB Aggarwal, Financial Commissioner Revenue  Lokesh Dutt Jha, Principal Secretary Finance  Navin Kumar Chaudhary,  Regional Director, Reserve Bank of India Thomas Mathew, Chief General Manager NABARD Vijay Kumar, Deputy Secretary, DFS, MoF, GoI  AK Dogra and   other senior functionaries of the State Government, banks, Insurance companies, BSNL etc.
Divisional Commissioner, Kashmir, representative of Divisional Commissioner Jammu and the Deputy Commissioners of all the districts also joined the meeting, few in person and remaining through video conferencing.
Chairman, J&K Bank (Convenor, J&K SLBC) Parvez Ahmed expressed his gratitude to the Chief Secretary for his well formed efforts to resolve various outstanding issues like allotment of land to RSETIs & FTCs, grant of exemption on stamp duty upto Rs 3.00 lakh on loans to SHGs/JLGs promoted by NABARD, etc. He said the practice of integration of various stakeholders through video conferencing and other innovative initiatives by Chief Secretary are praiseworthy.
Briefing the House about the performance highlights, J&K Bank Chairman-cum-CEO Parvez Ahmed said, “banks operating in the State have extended a total credit of Rs 17,188.19 crore in favour of 5,66,424 beneficiaries during the first three quarters of CFY ended  December 31, 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 60% in financial terms and 59% in physical terms.
This includes priority sector credit of Rs 9,224.79 crore disbursed in favour of 3,46,456 beneficiaries against the annual target of Rs 19,933.02 crore for 7,40,847 beneficiaries (constituting 46% achievement in financial terms) and non-priority sector credit of Rs 7,963.40 crore disbursed in favour of 2,19,968 beneficiaries against annual target of Rs 8,908.62 crore for 2,25,200 beneficiaries (constituting achievement of 89% in financial terms).
Commenting on the performance of banks in Government Sponsored Schemes (GSS) in the State,  Parvez said that against the Annual Action Plan 2017-18 target of Rs 539.40 crore for 21,951 beneficiaries for all banks operating in the State, the achievement of banks under four major sponsored schemes viz. NRLM, PMEGP NULM and SC/ST/OBC stood at Rs 178.07 crore for 8,035 beneficiaries in all the three regions of the State thereby achieving 33 pc of the target in financial terms and 37 pc in physical terms.
He pointed out that under agriculture Sector the banks have provided credit aggregating Rs 4,295.52 crore in favour of 2,25,552 beneficiaries upto  December 31, 2017  thus registering an achievement of 56% in financial terms. Under Micro, Small & Medium Enterprises Sector, banks have disbursed total amount of Rs 3,816.77 crore in favour of 93,039 beneficiaries. Under Education Sector banks have disbursed an amount of Rs107.85 crore in favour of 5,375 beneficiaries. Under Housing Sector, banks have disbursed credit amounting to Rs 763.34 crore in favour of 11,915 beneficiaries thereby registering an achievement of 29 % in financial terms.
In order to facilitate dispensation of credit through mortgage loans and boost credit deployment to Housing and Education sectors, Chief Secretary directed all the Deputy Commissioners to complete the process of digitization of land records in a time bound manner.
Taking note of aggregate Credit Deposit Ratio of 49% of the State, the Chief Secretary directed all the stakeholders to work in a coordinated manner to ensure that Credit Deposit Ratio of 60% as prescribed by Governor, Reserve Bank of India, is achieved by the end of March, 2018. He also directed the Deputy Commissioners of the districts having CD Ratio less than 40%, to formulate necessary strategies so that the CD Ratio of these districts is substantially improved.
All concerned banks/ Government agencies were advised to operationalize all their designated branches/ centers for Aadhaar enrolment-cum-updation facility immediately. Banks were also directed to expedite the process of seeding of Aadhaar in bank accounts well before 31st March, 2018, so that people are not put to any inconvenience on this account.
House noted that 100% coverage of farmers under KCC Scheme has already been completed in Kashmir division, but in Jammu division there is a pendency of 49000 cases.  Chief Secretary emphasized that all the stakeholders should put in strenuous efforts to ensure that the process of 100% coverage is completed immediately in Jammu division also.
Expressing concern that EBT Scheme has so far been implemented in only 16 districts of the State for IGNOAPS, all the stakeholders were directed to ensure that the process of validation of accounts in the remaining six districts of Budgam, Anantnag, Kulgam, Poonch, Reasi and Kathua is completed expeditiously.

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