16th May 2011
Srinagar
81st SLBC meet : J&K Bank overachieves credit targets, disburses Rs.2098 Cr to priority sector
Surpassing targets, J&K Bank has outperformed the rest of banks operating in the state of J&K by dispensing outstanding credit volumes to the priority sector. The Bank has alone disbursed Rs. 2,098 Crore out of Rs.3,049 crore disbursed by all banks operating in J&K against the Annual credit Plan (2010-11) target of Rs.2,820.91 Crores. This accounts for 68.81% of the total priority sector credit disbursed by all banks in the state under the annual plan. Notably, J&K Bank registered individual achievement at 190% of its target of Rs.1103.14.
This was revealed by Mushtaq Ahmad, Chairman & CEO, J&K Bank (Convenor J&K SLBC), at the 81st meeting of J&K State Level Bankers' Committee (SLBC) held today at S.K.I.C.C., Srinagar while presenting a review report on performance of the banks in the state at the end of March 2011. Madhav Lal, Chief Secretary, J&K Government presided over the meeting.
The meeting was also attended by Suresh Kumar, Principal Secretary, Housing & Urban Development, Sudhanshu Panday (IAS), Commissioner / Secretary Finance, F.A Peer (IAS), Commissioner / Secretary Labour and Employment, Umang Narula (IAS), Commissioner/ Secretary, Industries & Commerce, , A. K. Mehta, Executive Director J&K Bank, Tafazal Hussain, Sahibzada Ghulam Mohiuddin, Parvez Ahmad, Presidents of the bank, Ramesh Chand, D. P. Sharma, DGMs of Reserve Bank of India, V. V. V. Satyanarayan, General Manager NABARD, other senior officers of banks, Reserve Bank of India, NABARD, state government departments and developmental agencies.
Mushtaq Ahmad, Chairman & CEO J&K Bank, in his address said, "During the financial year ended March 2011, under Annual Credit Plan 2010-11 the Banks operating in J&K State have extended credit facilities aggregating Rs.3,049.09 Crores in favour of 1,44,661 beneficiaries against the target of Rs.2,820.91 Crores to 2,07,941 beneficiaries under Priority Sector, thereby registering achievement of 108% in financial terms and 69.56% in physical terms."
While reviewing sector-wise performance of banks during the financial year ended March 2011, Mushtaq said that target-achievement gaps were yawning and extra efforts were needed by banks in the state to bridge these. He urged the bankers to redouble their efforts to enhance credit flow and make this year a year of better performance. Giving a detailed sector-wise presentation on the credit-scene of the state, Chairman J&K Bank said, "Under Agriculture sector the banks extended credit facilities aggregating Rs.564.44 Crores to 51,205 beneficiaries against a target of Rs.673.48 Crores favouring 1,24,710 beneficiaries, registering an achievement of 84%."
"Under Small Enterprises Sector, the banks disbursed credit facilities aggregating Rs.1142.58 Crores in favour 34,872 beneficiaries against ACP target of Rs.1430.64 Crores in favour of 48,556 beneficiaries, thus registering an achievement of 80% in financial terms.
"Under Micro Credit Sector, banks disbursed credit facilities aggregating Rs.231.09 Crores in favour of 13,397 beneficiaries against ACP target of Rs.454.27 for 25,849 beneficiaries, registering an achievement of 51% in financial terms.
"Under Education Sector, banks extended credit facilities aggregating Rs.63.17 Crores in favour of 3,278 beneficiaries against ACP target of Rs.80.75 Crores for 3,544 beneficiaries, registering an achievement of 78% in financial terms.
Under Housing Sector, he said, banks disbursed amount of Rs.1047.82 Crores in favour of 41,909 beneficiaries against ACP target of Rs.181.77 Crore for 5,282 beneficiaries, registering an achievement of 576% in financial terms."
Commenting on the performance of banks regarding Government Sponsored Schemes in the State in 81st SLBC meeting, Mushtaq said that under five major Government Sponsored Schemes, viz. SGSY, PMEGP, JKSES, SJSRY and SC/ST/OBC, banks have disbursed amount of Rs.190.49 Crores in favour of 12,222 beneficiaries in all the three regions of the State, thereby achieving the target of 52% & 41% in financial and physical terms respectively.
This was revealed by Mushtaq Ahmad, Chairman & CEO, J&K Bank (Convenor J&K SLBC), at the 81st meeting of J&K State Level Bankers' Committee (SLBC) held today at S.K.I.C.C., Srinagar while presenting a review report on performance of the banks in the state at the end of March 2011. Madhav Lal, Chief Secretary, J&K Government presided over the meeting.
The meeting was also attended by Suresh Kumar, Principal Secretary, Housing & Urban Development, Sudhanshu Panday (IAS), Commissioner / Secretary Finance, F.A Peer (IAS), Commissioner / Secretary Labour and Employment, Umang Narula (IAS), Commissioner/ Secretary, Industries & Commerce, , A. K. Mehta, Executive Director J&K Bank, Tafazal Hussain, Sahibzada Ghulam Mohiuddin, Parvez Ahmad, Presidents of the bank, Ramesh Chand, D. P. Sharma, DGMs of Reserve Bank of India, V. V. V. Satyanarayan, General Manager NABARD, other senior officers of banks, Reserve Bank of India, NABARD, state government departments and developmental agencies.
Mushtaq Ahmad, Chairman & CEO J&K Bank, in his address said, "During the financial year ended March 2011, under Annual Credit Plan 2010-11 the Banks operating in J&K State have extended credit facilities aggregating Rs.3,049.09 Crores in favour of 1,44,661 beneficiaries against the target of Rs.2,820.91 Crores to 2,07,941 beneficiaries under Priority Sector, thereby registering achievement of 108% in financial terms and 69.56% in physical terms."
While reviewing sector-wise performance of banks during the financial year ended March 2011, Mushtaq said that target-achievement gaps were yawning and extra efforts were needed by banks in the state to bridge these. He urged the bankers to redouble their efforts to enhance credit flow and make this year a year of better performance. Giving a detailed sector-wise presentation on the credit-scene of the state, Chairman J&K Bank said, "Under Agriculture sector the banks extended credit facilities aggregating Rs.564.44 Crores to 51,205 beneficiaries against a target of Rs.673.48 Crores favouring 1,24,710 beneficiaries, registering an achievement of 84%."
"Under Small Enterprises Sector, the banks disbursed credit facilities aggregating Rs.1142.58 Crores in favour 34,872 beneficiaries against ACP target of Rs.1430.64 Crores in favour of 48,556 beneficiaries, thus registering an achievement of 80% in financial terms.
"Under Micro Credit Sector, banks disbursed credit facilities aggregating Rs.231.09 Crores in favour of 13,397 beneficiaries against ACP target of Rs.454.27 for 25,849 beneficiaries, registering an achievement of 51% in financial terms.
"Under Education Sector, banks extended credit facilities aggregating Rs.63.17 Crores in favour of 3,278 beneficiaries against ACP target of Rs.80.75 Crores for 3,544 beneficiaries, registering an achievement of 78% in financial terms.
Under Housing Sector, he said, banks disbursed amount of Rs.1047.82 Crores in favour of 41,909 beneficiaries against ACP target of Rs.181.77 Crore for 5,282 beneficiaries, registering an achievement of 576% in financial terms."
Commenting on the performance of banks regarding Government Sponsored Schemes in the State in 81st SLBC meeting, Mushtaq said that under five major Government Sponsored Schemes, viz. SGSY, PMEGP, JKSES, SJSRY and SC/ST/OBC, banks have disbursed amount of Rs.190.49 Crores in favour of 12,222 beneficiaries in all the three regions of the State, thereby achieving the target of 52% & 41% in financial and physical terms respectively.