Excelsior Correspondent
JAMMU, Jan 28: Banks operating in the Union Territory of Jammu and Kashmir have provided a total credit of Rs 14842.51 crore in favour of 392273 beneficiaries against a target of Rs 35771.56 crore for 1232611 beneficiaries under priority as well as non-priority sector, thereby registering an achievement of 41.49 per cent and 31.82 per cent in financial and physical terms respectively under the Annual Action Plan (ACP) 2019-20.The review covers period upto September 30, 2019.
Chairman and MD, J&K Bank (Convener, UTLBC J&K) Rajesh Kumar Chhibber briefed the house in the 1st Union Territory Level Bankers’ Committee (UTLBC) meeting of J&K held here today.
Chief Secretary BVR Subrahmanyam presided over the meeting and was attended by Financial Commissioner (Finance) Dr Arun Kumar Mehta, Chairman and Managing Director J&K Bank (Convener UTLBC J&K) Rajesh Kumar Chhibber, Principal Secretary Housing and Urban Development Dheeraj Gupta, Principal Secretary Animal Husbandry Dr Asgar H. Samoon, Commissioner Secretary Industries and Commerce M K Dwivedi, Commissioner Secretary Social Welfare Hirdesh Kumar Singh, Commissioner Secretary Labour and Employment Saurabh Bhagat, Regional Director Reserve Bank of India (RBI)Thomas Mathew, Deputy Secretary, DFS, MoF (GoI) A K Dogra, Chief General Manager NABARD P Balachandran and Divisional Commissioner Jammu Sanjeev Verma. Other senior functionaries of the Government, RBI, NABARD, banks, LDMs, Line Department and insurance companies were also present.
Notably, J&K Bank leads the pack with 69.95 per cent share of total outstanding advances of all banks as on quarter ended September 30, 2019. The bank has disbursed Rs 4587.63 crore against the annual target of Rs 15156.63 crore in the priority sector. Under the non-priority sector, the bank has registered an achievement of 101.74 per cent by lending Rs 5115.45 crore during the same period as given in the ACP 2019-20.
Speaking on the occasion, the Chief Secretary directed the Line Departments, banks and lead district managers to work in coordination with the district administrations to ensure 100 per cent coverage of farmers under KCC besides including 4 lakh beneficiaries under KCC Scheme for Animal Husbandry and Fisheries by March 31, 2020. He advised the banks to ensure disposal of all eligible pending cases under various Government sponsored schemes by the end of February 2020.
During the meeting, the Financial Commissioner (Finance) Dr Arun Kumar Mehta instructed banks to achieve saturation under the financial inclusion and Social Security Schemes viz. PMJDY, PMSBY, PMJJBY and APY by launching special campaigns in all the districts of the UT of J&K on the lines of the campaign undertaken in respect of Aspirational Districts of Baramulla and Kupwara.
Regarding performance under Government Sponsored Schemes (GSS), the house noted that an amount of Rs 104.43 crore has been disbursed by banks during the period in favor of 5329 beneficiaries under four major schemes, viz. NRLM, PMEGP, NULM and SC/ST/OBC Schemes.
On the occasion, the house also passed two resolutions relating to the recent Rehabilitation Package allowed by Reserve Bank of India for the affected borrowers in the UT of J&K under “Master Directions for relief measures by banks in the areas affected by natural calamity”.
As per the resolutions, J&K UTLBC will again approach Reserve Bank of India to consider inclusion of large borrowers also under the rehabilitation package. The UTLBC will also request Reserve Bank of India to revisit the criteria for eligibility under the Rehabilitation Package and consider the criteria as “borrowers whose accounts are Standard as on August 5, 2019” instead of the “borrowers whose accounts are not overdue as on August 5, 2019”.
Chairman and MD J&K Bank (Convener, UTLBC J&K) Rajesh Kumar Chhib assured the house that banks will leave no stone unturned in accomplishing the aspirations of the Government and the people at large.
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