*Asks banks to improve credit flow to priority sector
Excelsior Correspondent
JAMMU, Mar 10: Chief Secretary, Mohammad Iqbal Khandey today reiterated State Government’s priority to achieve 100 percent coverage of farmers under the Kissan Credit Card (KCC) scheme and directed that the State Agricultural Production Department in cooperation with banks should ensure that the set target is achieved at the earliest.
Speaking at the 92nd meeting of the State Level Bankers Committee (SLBC), here, the Chief Secretary noted that although substantial progress has been achieved and 7.22 lakh KCCs have already been handed over to the farmers ending December 2013, there is need to show greater urgency in achieving the set target of covering 10.09 lakh farmer families within the next few months, given the benefits attached with it for the farming community.
The Chief Secretary laid emphasis on improving the performance under Handicraft/Handloom/Artisan/Weaver Credit Card Scheme saying that these sectors should receive special focus given the importance of the sector, besides banks should improve the credit disbursement performance under these schemes.
On mediocre performance of the banks in achieving the Annual Credit Plan 2013-14 targets under the priority sector advances, the Chief Secretary said that over all performances indicates that banks in J&K are falling short in their responsibilities to achieve set targets besides it also indicates a sluggish interest in lending advances. He called for better working relationship between Government departments and financial institutions to address short falls.
The Committee also felt the need to generate greater awareness among the student community regarding educational/vocational training loan schemes besides it called for improving the performance by the banks in clearing sanctioned pending cases and advancing credit under the 5 major Government sponsored schemes viz. NRLM, PMEGP, SJSRY, JKSES and SC/ST/OBC in the State.
The 92nd SLBC also reviewed the progress in setting up of Rural Self- Employment Training Institutes (RSETIs) in all 22 districts, removal of hurdles to enforce SARFAESI Act, Corporate Social Responsibility Plan/initiatives of banks, Financial Inclusion Plan, implementation of Electronic Benefit Transfer Scheme, Branch Expansion Plans of banks etc.
Earlier, Chairman J&K Bank Mushtaq Ahmad while commenting on the performance of the banks in the State emphasized that both the Central and the State Governments have initiated several measures to achieve financial inclusion and banks have also strived to make their role more visible to promote the economy of the state, although there is scope for further improvement particularly in advancing flow of credit to the priority sector.
Financial Commissioner, Industries and Commerce, Khurshid Ahmad Ganai, Principal Secretary Planning and Development B R Sharma, Principal Secretary Finance B B Vyas, Regional Director RBI K K Saraf, Director DFS, Union Ministry of Finance, Dr. Alok Pandey, Chief General Manager NABARD B G Mukhopadhyay, representatives of various National Banking Institutions, Administrative Secretaries and heads of various departments were present in the meeting.
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