First UTLBC meet: Banks lend Rs 14,842 Cr; J&K Bank contributes 65%
Jammu, Jan 28:
Banks operating in the Union Territory of Jammu and Kashmir have provided a
total credit of Rs 14842.51 Cr in favour of 392273 beneficiaries against a
target of Rs 35771.56 Cr 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 up to September 30, 2019.
Chairman and MD,
J&K Bank (Convenor, 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.
J&K Government B V R Subrahmanyam (IAS) presided over the meeting attended
by Financial Commissioner (Finance) Dr Arun Kumar Mehta (IAS), Chairman and
Managing Director J&K Bank (Convener UTLBC J&K) Rajesh Kumar Chhibber,
Principal Secretary Housing & Urban Development Dheeraj Gupta, Principal
Secretary Animal Husbandry Dr Asgar H. Samoon (IAS), Commissioner Secretary
Industries & Commerce M K Dwivedi (IAS), Commissioner/Secretary Social
Welfare Hirdesh Kumar Singh, Commissioner/Secretary Labour & 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, Divisional Commissioner Jammu
Sanjeev Verma. Other senior functionaries of the Government, RBI, NABARD,
banks, LDMs, line department and insurance companies were also present.
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 Cr against the annual target of Rs 15156.63 Cr 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 Cr during the same period
as given in the ACP 2019-20.
Speaking on the
occasion, the Chief Secretary urged the banks to improve flow of credit to the
Priority Sector and focus on proliferation of financial inclusion in the UT of
J&K. He 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 & Fisheries by 31st March, 2020.
Secretary further advised the banks to ensure disposal of all eligible pending
cases under various Government Sponsored Schemes by the end of February 2020.
He stressed upon the banks to increase flow of credit to Credit Linked Subsidy
Scheme (CLSS) under Pradhan Mantri Awas Yojana, so that maximum people are
benefitted from the interest subsidy available under the scheme. Moreover, the
Chief Secretary stressed upon the need of direct lending in all sectors.
meeting, the Financial Commissioner (Finance) Dr Arun Kumar Mehta (IAS)
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
Earlier in his
address, Chairman and MD,J&K Bank(Convener UTLBC J&K) said that
preparations for first ever Global Investor Summit- a systemically important
event for the economy of J&K- were in full swing and handsome investments
from the public/private players are expected.
“The event shall
usher in a new era of growth, development and employment in the UT of J&K
besides creating new opportunities for lending”, the CMD added.
performance under Government Sponsored Schemes (GSS), the house noted that an
amount of Rs 104.43 Cr has been disbursed by banks during the period in favor
of 5329 beneficiaries under four major schemes, viz. NRLM, PMEGP, NULM and
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 5th
August, 2019” instead of the “borrowers whose accounts are not overdue as on
5th August, 2019”.
Chairman and MD
J&K Bank (Convenor, UTLBC J&K) assured the house that banks will leave
no stone unturned in accomplishing the aspirations of the Government and the
people at large.