Chairs J&K UT level Bankers’ Committee Meeting
Ganderbal: Union Minister of State for Finance, Dr. Bhagwat Rao Kard today arrived on two day visit to Ganderbal district under the Union Government’s public outreach programme.
During the first day of visit, the Minister chaired a meeting of senior officers to review the progress on various ongoing development projects and schemes in the district.
The meeting was attended by Additional Chief Secretary, Finance Department, Atal Dulloo; Deputy Commissioner, Ganderbal, Krittika Jyotsna; ADDC, ADC, SDM Kangan, ACR, CPO and other concerned officers and officials of the district
While reviewing the progress made under various schemes, the Minister appreciated the district administration for its achievements in various beneficiary oriented schemes and asked the officers to work with positive attitude and dedication for all round development of the district.
During the meeting, Deputy Commissioner, Krittika Jyotsna gave a brief overview of the developmental activities in the district. She also briefed the minister about Covid mitigation efforts and progress on various beneficiary oriented schemes in the district.
During the visit, the Minister also inaugurated Auditorium at Govt. Boys Hr. Sec. School (BHSS) Ganderbal constructed at the cost of Rs 119.34 lakhs.
Later, the minister met DDC delegation led by DDC Chairperson Ganderbal, Nuzhat Ishfaq, BDCs, ULBs and PRIs who put forth various demands pertaining to the development of their respective areas before the minister.
While interacting with the PRI representatives, the minister said that the Central Government’s initiative of public outreach in UT of J&K has been rolled out with the objective of bridging the gap between government and public and to ascertain the needs of the locals so that the same may be fulfilled in a better and effective manner.
He assured the representatives that the issues and grievances projected by them will be resolved on priority.
Earlier, the minister paid obeisance at Kheer Bhawani Shrine, Tulamulla and prayed for happiness, prosperity and well-being of all.
Chairs J&K UT level Bankers’ Committee Meeting
Meanwhile, The Union Minister of State for Finance appreciated the banks for their performance in higher credit delivery under various government sponsored/self-employment schemes and urged them to exert more to enable ushering in of digital ecosystem as well as financial inclusion in J&K.
Dr Karad made these remarks while chairing the 4th Meeting of J&K Union Territory Level Bankers’ Committee (J&K UTLBC) held at Mini Secretariat Ganderbal.
Dr A. K. Mehta, Chief Secretary, Atal Dulloo, Financial Commissioner, Finance and other Administrative Secretaries including Chairman & MD J&K Bank (Convenor J&K UTLBC) R. K.Chhibber, Regional Director, Reserve Bank of India Kamal P. Patnaik, CGM NABARD, A. K. Sood, CGM, SBI Anukool Bhatnagar and other senior executives of RBI, NABARD, Banks and insurance companies also attended the meeting.
While hailing J&K as the crown of country, Dr Karad stated that J&K has a unique significance for the country and that the central government will always support the J&K Government in its endeavours to improve the lives of its people.
Dr. Karad expressed satisfaction over the amount of NPAs under MUDRA and other government sponsored schemes in a predominantly retail economy like J&K, which he said was very low in comparison to other states/UTs across the country.
Stressing upon the bankers for 100% coverage of villages under financial inclusion programmes of Finance Ministry and RBI, Dr. Karad urged banks to make all out efforts to cover all the unbanked villages.
Dr A K Mehta, Chief Secretary, informed that all government payments in UT of J&K are transacted digitally.
He stated that the Government is committed to provide gainful employment to 1 lakh youth in J&K through various schemes and urged the departments and banks to synergise their efforts to achieve the target.
While elaborating, he informed that 50,000 youth under “Mission Youth” Programme shall be provided self employment opportunities during the current financial year. Besides, steps are also afoot to create 20000 jobs in the Government.
He stated that the Government has begun the process of creating employment opportunities both in the public and private sector to reduce unemployment rate to 5%.
Dr Mehta informed that “Banks for the most part maintained business continuity during the pandemic in the UT. Overall banks are doing well but need to improve greatly in certain schemes like Stand UP India, SC, ST, OBC etc.”
While stating that he was following credit delivery under CGTSME closely, he informed that there was a huge potential to create employment by suitably tapping the insurance coverage under CGTMSE.
“We have a robust financial inclusion mechanism in place, however CD ratio of private banks is not encouraging and their performance in priority sector lending also leaves a lot to be desired, “ Dr Mehta observed.
Earlier, while outlining the role of the financial sector in J&K during Covid-19 Pandemic, Chairman & MD J&K Bank, R K Chhibber said that banks in J&K responded proactively by providing uninterrupted banking services to the people of the Union Territory besides adhering to COVID 19 SOPs.
Chhibber said that the targets assigned by J&K Government under ‘Back to Village’ programme have been achieved by disbursing an amount of Rs.337 Crore in favour of 20,000 Beneficiaries.
It was informed that the banks operating in Jammu & Kashmir have extended a total credit of Rs.7,296.58 crore in favour of 3,29,370 beneficiaries registering an achievement of 16% in financial terms and 22% in physical terms during the first quarter of FY 2021-22; against the Annual Credit Plan of Rs.44,980.57 crore for 14,97,700 beneficiaries.
Against the target of Rs.780.53 Crore spread over 38,560 beneficiaries for FY 2021-22, banks operating in UT of J&K have disbursed Rs.239.29 Crore in favour of 11,023 beneficiaries during the period from 1.4.2021 to 31.8.2021 under four major Government Sponsored Schemes, i.e. NRLM, PMEGP, NULM and SC/ST/OBC Schemes, this included Rs.62.74 Crore under NRLM (23% Ach.), Rs.168.72 Crore under PMEGP (94% Ach.), Rs.7.43Crore under NULM (2% Ach.) and Rs.0.40 Crore under SC/ST/OBC Schemes (1% Ach.).
Under KCC scheme, the Minister was informed that more than 9.50 lac borrowers have been covered under the scheme in UT of J&K and the NPA under the scheme was as low as 4.14%.