Excelsior Correspondent
JAMMU, Nov 29: Chief Secretary Atal Dulloo today chaired the 17th meeting of the UT-Level Bankers’ Committee (UTLBC) in Jammu and reviewed the performance of banks and financial institutions for the first quarter and first half of the financial year 2025-26.
He said that despite challenges posed by the Pahalgam terror attack, cross-border tensions and recent floods, priority sector lending in Jammu and Kashmir has remained satisfactory.
He added that agriculture continues to be a major opportunity and urged banks to extend timely and adequate credit to farmers to support economic growth.
The Chief Secretary called upon banks to simplify processes and provide hassle-free loans under schemes such as the Holistic Agriculture Development Programme (HADP), PM Vishwakarma, Mission YUVA and the Homestay initiative, which aim to create self-employment avenues for youth across the UT.
He also highlighted the need to improve the Credit-Deposit (CD) Ratio in J&K and increase financial support to Self-Help Groups to strengthen rural livelihoods.
The meeting was attended by senior officials from J&K Bank, the UT Government, RBI, NABARD, insurance companies, BSNL and Lead District Managers.
During the discussion, the Chief Secretary asked banks to enhance their lending under the priority sector, with a special focus on agriculture, housing, education and social infrastructure.
He directed banks, particularly those in the private sector, to expand their reach in unbanked and under-banked areas to ensure wider access to financial services.
He also called for improved enrolment in social security schemes, including Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana, and stressed timely settlement of claims for the benefit of citizens.
Earlier, J&K Bank MD & CEO and Convenor UTLBC, Amitava Chatterjee, said the banking sector remains committed to supporting the developmental goals of the UT.
He said banks are working to boost entrepreneurship, improve credit access and strengthen financial empowerment across communities.
A detailed progress report was presented, covering total credit disbursed, number of beneficiaries, and achievement under the Annual Credit Plan (ACP).
Performance under Mission YUVA, PMEGP, PMFME, HADP, KCC, SHG-Bank Linkage and financial inclusion programmes was also reviewed.
The house was informed that banks have disbursed Rs 43,017 crore to 10.07 lakh beneficiaries during the first half of 2025-26.
The meeting concluded with a vote of thanks, emphasizing cooperation among all stakeholders for inclusive economic development in Jammu and Kashmir.
Meanwhile, CS chairing a high-level review meeting of PM Vishwakarma Scheme, Chief Secretary, Atal Dulloo directed the concerned departments and banking institutions to give a major strategic push for improving credit uptake under this scheme here.
He stressed that credit linkage is a significant pillar of the programme and must progress in tandem with training, toolkit distribution, and capacity-building components.
The meeting was attended by Commissioner Secretary, Industries & Commerce (I&C), Vikramjit Singh; Secretary, Labour & Employment, Kumar Rajeev Ranjan; Managing Director, J&K Bank; Director, L&E; Directors, I&C Jammu/Kashmir, and senior officers of these Departments.
The Chief Secretary called for focused interventions to bridge the growing gap between sanctioned loans and actual disbursements. He directed banks to streamline procedures, minimize delays, and ensure that sanctioned beneficiaries receive funds quickly so that the scheme’s benefits saturate at the grassroots.
The Chief Secretary directed both departments and banks to raise the Union Territory’s disbursement percentage at least to the national average of 70 percent. He emphasized that the renewed push would ensure that artisans, especially those in rural and marginalized communities, receive timely financial assistance to modernize their tools, enhance productivity, and scale up traditional crafts.
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