JK Bank Convenes 107th SLBC Smooth Credit Flow imperative to Governments Development narrative: Chief secretary

 

Jammu, Feb 21: J&K Bank Wednesday convened 107th meeting of J&K State Level Bankers’ Committee (SLBC) here at the conference centre of Hotel Radisson Blu, Jammu. The meeting was presided over by B. B. Vyas, Chief Secretary J&K Government. Other prominent dignitaries who attended the meeting included Financial Commissioner, Housing & Urban Development Department K. B. Aggarwal, Financial Commissioner Revenue Lokesh Dutt Jha, Principal Secretary Finance Navin Kumar Chaudhary, Regional Director, Reserve Bank of India Thomas Mathew, Chief General Manager NABARD Vijay Kumar, Deputy Secretary, DFS, MoF, GoI A. K. Dogra, other senior functionaries of the State Government, banks, Insurance Companies, BSNL etc.
Divisional Commissioner, Kashmir, representative of Divisional Commissioner Jammu and the Deputy Commissioners of all the districts also joined the meeting, few in person and remaining through Video conferencing.
Chairman, J&K Bank (Convenor, J&K SLBC) Parvez Ahmed expressed his gratitude to the Chief Secretary for his well formed efforts to resolve various outstanding issues like allotment of land to RSETIs & FTCs, grant of exemption on stamp duty upto Rs.3.00 lakh on loans to SHGs/JLGs promoted by NABARD, etc. He Thanked the Chief Secretary for resolving large number of long pending issues of the forum and intiating well founded programmes to accelerate the resolutions.”The practice of integration of various stakeholders through vedio conferencing and other innovative initiatives by Chief Secretary are praiseworthy”, he said.
Briefing the House about the performance highlights, J&K Bank Chairman cum CEO and Convenor J&K SLBC, Parvez Ahmed said, “Banks operating in the State have extended a total credit of Rs.17,188.19 Crore in favour of 5,66,424 beneficiaries during the first three quarters of CFY ended 31st December, 2017 against annual target of Rs.28,841.64 Crore for 9,66,047 beneficiaries under Annual Credit Plan 2017-18, thereby registering achievement of 60% in financial terms and 59% in physical terms.
This includes Priority Sector credit of Rs.9,224.79 Crore disbursed in favour of 3,46,456 beneficiaries against the annual target of Rs.19,933.02 Crore for 7,40,847 beneficiaries (constituting 46% achievement in financial terms) and Non-priority sector credit of Rs.7,963.40 Crore disbursed in favour of 2,19,968 beneficiaries against annual target of Rs.8,908.62 Crore for 2,25,200 beneficiaries (constituting achievement of 89% in financial terms).
Notably, J&K Bank alone has disbursed Rs.12,319.61 Crore during the period under review, which makes for 72 pc of the total credit extended by the 43 banks and financial institutions operating in the State.
Commenting on the performance of banks in Government Sponsored Schemes (GSS) in the State, Parvez Ahmed said that against the Annual Action Plan 2017-18 target of Rs.539.40 Crore for 21,951 beneficiaries for all banks operating in the State, the achievement of banks under four major sponsored schemes viz. NRLM, PMEGP NULM and SC/ST/OBC stood at Rs.178.07 Crore for 8,035 beneficiaries in all the three regions of the State thereby achieving 33 pc of the target in financial terms and 37 pc in physical terms.