J&K Bank convenes DLRC meeting in Budgam

Srinagar, Mar 18(KMW): J&K Bank convened District Level Review Committee (DLRC) meeting in Budgam which was chaired by the DDC Budgam Mir Altaf at DC Office Budgam. Mir M Hussain (ADDC), Ravinder Koul (RBI), Noor Mohammed (CPO Budgam), M A Wanchoo (Cluster Head, J&K Bank), bank coordinators and distinguished officials from government departments attended the meeting.
J&K Bank Lead District Manager Shehzad Hussain Teli while briefing the committee about achievements of the banks operating in the area till December 31, 2014 said, “The Banks operating in district Budgam have surpassed the credit targets under Priority and Non Priority Sector. The banks have achieved Credit Deposit Ratio of 76.42% in the quarter ended December, 2014 against 60% recorded earler.”
Under Priority Sector the banks have disbursed Rs 496.74 Crores against the set target of Rs 365.72 Crores for the financial year 2014-15 registering a growth of 135.82%. An amount of Rs130.81 Crores has been disbursed under Non Priority Sector against the target of Rs122.23 Crores thereby achieving growth of 107.02%, he added.
However, under Government Sponsored Scheme (GSS), the banks have financed only 48% of the cases sponsored by various departments till December, 2014. Besides, against the annual target of 5514 cases the banks have granted financial assistance to 1787 Beneficiaries only for establishment and generating new income units thus registering growth of 23.11%.
Taking a serious note of performance of the banks under GSS Chairman DLRC Mir Altaf asked all the stake holders to work with zeal and provide all types of facilities to the people of Budgam.
Present on the occasion, the RBI representative also urged the bank coordinators and sponsoring agencies to speed up the pace and increase the figure under GSS at the end of the financial year 2014-15.
Almost all the Participants put their view points and discussed the related issues in the meeting.
Meanwhile, the bank participated in an Employment Fair in Reasi, organized jointly by District Administration and Indian Army at Mini Stadium. Deputy Commissioner Reasi Sushma Chauhan and Maj. Gen. B V Rao GOC CIFU Force were also present at the fair.
On the occasion, the bank’s Cluster Head Vibhakar Khajuria conducted an awareness camp for unemployed youth and informed the visitors about various employment schemes of the bank besides deposits and advances products.
Under different employment schemes, Rs 60 lacs were disbursed among the beneficiaries on the occasion.