The Banks operating in J&K State have extended credit aggregating to Rs.16,886.63 Crore to 5,04,256 beneficiaries under Priority as well as Non-priority sector, during FY 2014-15 registering an achievement of 84 in financial terms and 57 in physical terms. J&K Bank alone has disbursed Rs.12,447.13 Crore, which accounts for 74 of the total credit disbursed by all 46 banks/Financial Institutions operating in the State during the FY 2014-15 .
Chairman & CEO, J&K Bank (Convenor J&K SLBC Mushtaq Ahmad stated this while addressing the 97th meeting of J&K State Level Bankers Committee (SLBC today at SKICC Srinagar.
Chairing the meeting State Minister for Finance Dr Haseeb A Drabu while pitching for smaller, focused and theme based SLBC meetings in future said, �I would want to combine all the financial structure layers of the state comprising of the government owned J&K Bank, public sector banks like SBI, new generation private banks like HDFC, co-operative banks, Regional rural banks and financial institutions like State Financial Corporation to produce a well intermediated economy financially. For, only synergies between these layers would enable the state economy to address its systemic and structural problems.
Regarding the role of banks in relief and rehabilitation of flood-affected, he urged the banks to focus more on liability management of borrowers than on assets. �The banks must help people manage their business cycles.
Speaking about the routine emphasis on increasing CD Ratio in the state, he said, �If the banks understand the businesses well, they can devise methodologies to lend more and improve their CD Ratios�, he said.
Earlier, Chairman & CEO, J&K Bank (Convenor J&K SLBC), stated that J&K SLBC is making concerted efforts to implement the various initiatives taken by the Central and State Government for the overall economic development of the State.
He said, �Financial Inclusion which is the prestigious project of GoI has always remained our high priority for promoting inclusive growth and bringing into the banking fold the people who are still financially excluded he stated. The programme has got the focused attention after Hon�ble Prime Minister of India declared this as a national mission for implementation through special programme �Pradhan Mantri Jan Dhan Yojana�.
Under the programme, he stated that banks have opened 16.26 lakh fresh accounts up to 11th May 2015 and issued RuPay Debit Cards to 12.65 lac beneficiaries under the scheme.
On the restructuring of various types of credit facilities to the existing borrowers and disbursement of fresh loans to the people affected by the floods, the chairman said that till 15th May, 2015 banks in J&K State have received 30,035 applications for rescheduling/restructuring of existing loans and issuance of fresh credit out of which 27,059 applications involving an amount of Rs.1,819.21 Crore in respect of existing and fresh borrowers affected by the natural Calamity have been processed sanctioned. Banks have disbursed credit amounting to Rs.1,201.85 Crore in favour of 22,671 applicants upto the said period, he said.
Commenting on performance of Banks under Kissan Credit Card Scheme, Chairman said that the banks have issued Kissan Credit Cards to 8.42 lakh farmers against the target of covering 9.81 lac farm operating families upto 31st March 2014. This works out to an achievement of 86 of the target, he stated. The house decided to extend the timeline for 100 coverage under KCC upto 30th September 2015.
While taking a serious note of the poor performance under Government Sponsored Schemes, he urged the banks and concerned sponsoring agencies to introspect and identify the impediments in achieving the desired targets under these schemes which he said were aimed at uplifting of unprivileged segments of the society.
Commenting on the performance of banks under Government Sponsored Schemes, Chairman said that against the Annual Action Plan 2014-15 target of Rs.445.18 Crore to 24,230 beneficiaries for all banks operating in the State, the achievement of banks at the end of March 2015 under five major Government Sponsored Schemes, viz. NRLM, PMEGP, NULM, JKSES and SC/ST/OBC is of the order of Rs.209.78 Crore spread over 9,028 beneficiaries in all the three regions of the State thereby registering an achievement of 47 of the target in financial terms and 37 in physical terms.
Observing that the achievement was not satisfactory by any standards he called upon the stakeholders to put in their best efforts to improve the position under this vital segment. Notably, the C. D. Ratio of all banks operating in the State at the end of Q4 of FY 2014-15 stood at 46.23 against 44.58 during the corresponding period of previous year.
The meeting was attended by Chief Secretary M I Khanday, Financial Commissioner, Industries & Commerce Department K A Ganai, General Manager RBI A K Mattu, Chief General Manager NABARD Shanker A Pande, commissioner/secretaries of state government, senior officers of banks, Reserve Bank of India, NABARD, government departments & developmental agencies besides representatives of various insurance companies.
Chief Secretary M I Khanday talked about importance about awareness of schemes like housing loan and education loan schemes among general public.
Meanwhile, under Priority Sector, banks have disbursed an amount of Rs.9,025.40 Crore to 3,74,083 beneficiaries thereby achieving 72 of target in financial terms and 55 in physical terms.
In Agriculture Sector the banks have provided credit aggregating Rs.2,764.14 Crore in favour of 1,94,154 beneficiaries upto 31st March 2015 against the target of Rs.4,004.55 Crore favouring 4,19,015 beneficiaries, registering an achievement of 69 in financial terms and 46 in physical terms.
In Micro & Small Enterprises Sector, banks have disbursed total amount of Rs.4,564.44 Crore in favour of 1,11,727 beneficiaries during FY 2014-15 thereby registering an achievement of 109 in financial terms and 80 in physical terms, during the said period.
In Education Sector banks have disbursed an amount of Rs.93.81 Crore in favour of 4,366 beneficiaries during the FY 2014-15 registering an achievement of 17 in financial terms and 31 in physical terms.
In Housing Sector, banks have disbursed credit amounting to Rs.829.29 Crore in favour of 25,381 beneficiaries during the period under review thereby registering an achievement of 34 in financial terms and 65 in physical terms.
In Other Sector against the annual target of Rs.1,271.80 Crore in favour of 59,340 beneficiaries banks have disbursed total amount of Rs.773.72 Crore in favour of 38,455 beneficiaries during FY 2014-15 This works out to 61 achievement in financial and 65 in physical terms.
Under Non-Priority Sector, the banks have disbursed Rs. 7,861.24 Crore to 1,30,173 beneficiaries thereby achieving 104 of target in financial terms and 62 in physical terms.
President JK Bank, S K Bhat gave a detailed power point presentation about the performance of banks operating here. Later he presented vote of thank.

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