DLRC meeting held in Pulwama

PULWAMA, MARCH 15: The District Development Commissioner Pulwama, Ghulam Mohammad Dar, today chaired a joint meeting of Bankers and Sponsoring agencies to review the progress achieved under the targeted schemes launched by the banks in collaboration with the line departments for its implementation for the quarter ending December 2017.

The Meeting was attended by LDO RBI, Cluster Head J&K bank M. Zaffar and District Coordinators of all the banks. Besides Chiefs/District officers, heads of all the line departments of the State Government/ sponsoring agencies were also present in the meeting.

Lead District Manager informed the chair that total credit deposit from all the banks operating in the district ending quarter ending December 2017 of current financial year stands at Rs 1897.45 crores, out of which Rs 1344.36 crores (71 % of total credit) stands deployed under Priority Sector Lending and Rs 553.09 Crores (29%) under non-priority sector. Credit Deposit Ratio at the end of December 2017 stands at 78.27%.

Under Agricultural and Horticultural which are very crucial sectors of economy, banks have disbursed an amount of Rs 337.72 crore to 10920 beneficiaries against the target of Rs 645.14 crore to 30502 beneficiaries., resulting in achievement of 52% and 36% in terms of financial and physical targets respectively.

Out of total achievements under agricultural sector, banks have disbursed an amount of Rs 257 .44 crores to 9833 farmers /fruit growers up to December 2017 against the annual target of 382.10 crores to 25318 farmers.

Under export sector, a recently introduced activity banks have reported no progress against stipulated annual targets of 10 crores to 10 beneficiaries till 31.12.2017. The DDC made displeasure over the dismal performance in Export credit and sought detailed report in this regard. The chairman further said that District Pulwama has a huge potential in export activities. “The need of the hour is to make aware the public who are involved in the export business like Saffron, Walnut, Apricot and other agricultural & horticultural products regarding the export lending facilities by the banks,” he added.

Education sector, another preferred segment under Priority sector, has achieved a positive growth. During this quarter ending December 2017, Rs 2.89 crores have been disbursed in favour of 205 beneficiaries against the target of Rs 9.76 Crores to 244 beneficiaries resulting in achievement of 30% and 84% in financial and physical terms respectively.

The District Development Commissioner stressed upon banks as well as sponsoring agencies to work in tandem and play vital role in eradicating unemployment crisis of district by achieving the set targets under various sectors for setting up income generating units.

He also advised the financial institutions to spread awareness among common masses with regard to various banking services being provided by the financial institutions so that people may take benefits from it.