Excelsior Correspondent
SRINAGAR, Aug 20: J&K Bank conducted a District Level Review Committee (DLRC) meeting at Budgam which was chaired by DDC Budgam Mir Altaf to review the progress and performance of financial Institutions, banks and sponsoring agencies in economic developmental activities for the quarter ended June 30.
The Bank’s Lead District Manager Budgam Shahzad Hussain Teli briefed the house about the achievements of the banks operating in the district under the District Credit Plan 2015-16. He informed that all the Banks have disbursed a total amount of Rs 198.52 crore to 9613 units during the quarter thus achieved 36.55% against the target of Rs 543.06 crore.
The Credit Deposit Ratio of the Banks in the district has reached to 78.99% against the 60% benchmark. Under priority sector banks have disbursed Rs 165.96 crores to 7933 units against the target of Rs 401.57 crore. Under Non-priority sector an amount of Rs 32.56 crore have been disbursed to 1680 units against the annual target of Rs 141.49 crore during the period under review and achieved 23% of the annual target for the year 2015-16.
Speaking on the occasion, DDC Budgam said, “Unemployment is the biggest challenge before us, so the banks and other agencies need to dedicate themselves for sponsoring more and more cases for establishment of new income generating units in the District.”
He urged the banks and financial institutions should provide hassle free services to the beneficiaries by granting financial assistance to the educated and skilled persons.
The meeting was attended by ADC Budgam, CPO, RBI representative, District Bank coordinators, DDM NABARD, Director RSETI Budgam, Sectional Heads of Line Departments, Block Development Officers and other dignitaries of the district administration.
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