Banks operating in J&K State have extended credit aggregating Rs.3,791.82 Crores to 2,64,839 beneficiaries in the first nine months of the current financial year against annual target of Rs.6,094.50 Crore to 3,54,302 beneficiaries under Priority Sector registering achievement of 62%.
J&K Bank alone has disbursed Rs.2,399.12 Crore against annual target of Rs.3,123.22 Crore achieving 77 of the annual target under ACP. This was revealed by Mr. Mushtaq Ahmad, Chairman & CEO, J&K Bank (Convenor J&K SLBC), who presided over the 88th meeting of J&K State Level Bankers' Committee (SLBC today at Jammu.
The meeting was attended by the Commissioner Secretary Industries & Commerce Mr. Shantmanu, Commissioner Secretary Labour and Employment Mr. Yedullah, Commissioner Secretary Rural Development, Mr. F. A. Peer, Chief General Manager, NABARD Mr. S.C. Rabra, other senior officers of banks, Reserve Bank of India, NABARD, State Government Departments and developmental agencies.
The Chairman & CEO, J&K Bank, Mr. Mushtaq Ahmad, while reviewing sector-wise performance of banks stated that under Agriculture sector banks have extended credit facilities aggregating Rs.1,425.55 Crore to 1,80,573 beneficiaries upto the end of December 31, 2012 against the target of Rs.1,771.85 Crore favouring 2,10,675 beneficiaries, registering achievement of 80 in financial terms and 86 in physical terms.
Under Micro & Small Enterprises Sector banks have disbursed credit aggregating to Rs.1,346.12 Crore in favour of 38,547 beneficiaries against the annual ACP target of Rs.2,147.61 Crore favouring 71,728 beneficiaries, thus registering an achievement of 63 in financial and 54 in physical terms.
Under Micro Credit Sector banks have disbursed credit aggregating to Rs.255.29 Crore in favour of 16,348 beneficiaries against the annual ACP target of Rs.777.46 Crore for 40,845 beneficiaries, registering an achievement of 33 in financial 40 in physical terms.
Under Education Sector banks have provided a credit of Rs.58.82 Crore in favour of 3,656 beneficiaries against the annual ACP target of Rs.208.10 Crore for 6,447 beneficiaries, registering an achievement of 28 in financial and 57 in physical terms.
Under Housing Sector banks have provided credit amounting to Rs.706.04 Crore in favour of 25,715 beneficiaries against the annual ACP target of Rs.1,189.47 Crore for 24,607 beneficiaries, recording an achievement of 59 in financial terms and 104 in physical terms.
Commenting on the performance of banks under Government Sponsored Schemes in the State, the Chairman and CEO of J&K Bank stated that under five major Government Sponsored Schemes, viz. NRLM (SGSY), PMEGP, JKSES, SJSRY and SC/ST/OBC, banks have disbursed Rs.131.53 Crore in favour of 8,372 beneficiaries in all the three regions of the State against the annual target of Rs.411.75 Crore for 27,475 beneficiaries, recording achievement of 32 of the target in financial and 30 in physical terms, which he observed, was not satisfactory. He explained the importance of the schemes which are aimed at improving the economic conditions of the underprivileged class besides the employment generation avenues.
Regarding Credit Deposit Ratio, the Chairman and CEO of J&K Bank commented that C. D. Ratio of banks in the State as on 31st December, 2012 stood at 35.09 compared. which, he said, is a cause of concern keeping in view that all the banks are committed to the Governor, RBI, Dr. D. Subharao, that the Credit Deposit Ratio would be enhanced to the minimum level of 40 by the end of March, 2013. He advised all the banks operating in the State to put in extra efforts to achieve the desired target by March 2013.
Giving progress in respect of providing banking services to the unbanked areas of the State he stated that under "Swabhimaan campaign Financial Inclusion Programme 785 villages out of the allocated 795 villages having population over 2000 have already been covered, which he said was encouraging.
Under the "Extension of Swabhimaan campaign 1044 villages out of 1393 identified villages in the population segment of 1000-2000 have been already covered upto the end of December 2012, which included 888 villages covered by J&K Bank alone out of the 1093 villages allocated to it. He expressed his optimism that the target of covering 1393 villages will be accomplished within the prescribed timelines of 31st March 2013. While informing that the timelines for 100 coverage of farmers under KCC Scheme have been extended to June, 2013, he emphasized the need that the programme has to be implemented in a mission mode and all the stakeholders, viz. banks, State Government agencies, have to put in strenuous efforts to ensure that the target is achieved within the prescribed timelines. It was also observed that the progress under Artisans Credit Card was not up to the expected level. Director Handicrafts explained the difficulties and problems faced by the artisans. It was emphasized that the Public Sector banks should promote the segment and play a positive and proactive role to address the credit needs of the artisan class.