5th September 2011
Srinagar
82nd SLBC held : J&K Bank disburses 631.76 Cr to priority sector in Q1 of FY 2011-12
J&K Bank alone has disbursed Rs 631.76 Crores out of the credit facilities aggregating Rs 914.73 Crores extended by all the banks operating in J&K state during Q1 of FY 2011-12, which accounts for the 69% of the total priority sector credit disbursed in the state. These 914.73 Crores have been extended to 46,273 beneficiaries against the target of Rs 3619.69 Crores for 2, 37,892 beneficiaries under Priority Sector. Against the target of 1492.44 Crores, J&K Bank has achieved 42% of its Annual Credit Plan (ACP).
Chairman and CEO J&K Bank (Convenor SLBC) Mr. Mushtaq Ahmad stated these facts and figures as part of the review on performance of banks in the state while presenting the report at 82nd meeting of J&K State Level Banker's Committee (SLBC).
Chairman J&K Bank presided the meeting. The meeting was attended by Umang Narola (IAS), Commissioner/Secretary, Industries & Commerce, F A Peer (IAS), Commissioner/Secretary Labour and Employment, Mr. K K Saraf Regional Director (J&K), RBI, Mr. M L Sukhdeve CGM, NABARD (J&K), senior functionaries of state government, senior executives of banks, Reserve Bank of India, NABARD and other developmental agencies.
Commenting upon the performance of the Banks, Chairman said, "The overall figures may not be discouraging as such but there are certain areas where performance is dismal and need collective effort to achieve the targets in a meaningful and comprehensive way. We need to develop an attitude favourable to the realization of our credit targets. "
He urged the participants "to introspect about these results and see how much we have done for our society. What are the gaps and how we can address these gaps?"
The Chairman took a strong note of poor performance in disbursement of credit in state sponsored schemes.
"Only 44 Crores of credit has been disbursed in such schemes against the target of 308 Crores which is a bare minimum of 14%", he said.
He said that by encouraging the disbursement in state sponsored schemes, the banking fraternity can contribute immensely to the welfare of the society and this can be one of the best CSR initiatives ever undertaken.
While giving the sector-wise break-up, the Chairman stated, "Under Agriculture sector banks have extended credit facilities aggregating Rs 198.29 Crores to 18546 beneficiaries as against ACP target of Rs 845.90 Crores favouring 138724 beneficiaries, registering an achievement of 23%.
"Under Small Enterprises Sector banks have disbursed credit facilities aggregating Rs 357.42 Crores in favour of 12139 beneficiaries as against target of Rs 1728.39 Crores in favour of 59601 beneficiaries registering an achievement of 21%.
"Under Micro Credit, against the target of Rs 474.97 Crores for 25979 beneficiaries the banks have disbursed Rs 64.45 Crores in favour of 3546 beneficiaries registering 14% achievement in financial terms.
"Under Education Sector, banks extended credit facilities aggregating Rs.12.11 Crores in favour of 1041 beneficiaries against ACP target of Rs.151 Crores for 4673 beneficiaries, registering an achievement of 8% in financial terms.
Under Housing Sector, he said, banks disbursed amount of Rs.282.46 Crores in favour of 11001 beneficiaries against ACP target of Rs.419.42 Crore for 8915 beneficiaries, registering an achievement of 67% in financial terms.
Referring to the difficulties faced by the banks in loan recovery especially under government sponsored schemes, the Chairman made a strong plea to the government for some serious consideration to improve the recovery scenario in the state. He stressed upon the importance of recovery of bank dues for recycling of funds.
Earlier, Mr. K K Saraf RD (J&K) RBI reiterated the importance of SLBC forum and impressed upon the banking fraternity and the state officials/agencies to work in a coordinated way to accelerate the process of economic development of the state.
Commenting upon the report, he remarked that the overall performance seems encouraging because of marked performance of J&K Bank. He emphasized that all the banks have to play a vital role and show better performance in the coming times.
A number of decisions that were taken during the meeting included the emphasis on the financial inclusion programme. A sub-group was formed to work out the modalities to take the initiative forward as the top most priority in line with the guidelines of government of India.
Moreover, all the member banks were advised to take necessary measures for substantially improving the Credit-Deposit ratio in the state.
The meeting concluded with the presentation made by the representative of Banking Codes and Standards Board of India (BCSBI). The presentation was aimed at generating awareness about the utility of banking codes and Standards in promoting fair banking practices and upgrading the level of customer service.
Chairman and CEO J&K Bank (Convenor SLBC) Mr. Mushtaq Ahmad stated these facts and figures as part of the review on performance of banks in the state while presenting the report at 82nd meeting of J&K State Level Banker's Committee (SLBC).
Chairman J&K Bank presided the meeting. The meeting was attended by Umang Narola (IAS), Commissioner/Secretary, Industries & Commerce, F A Peer (IAS), Commissioner/Secretary Labour and Employment, Mr. K K Saraf Regional Director (J&K), RBI, Mr. M L Sukhdeve CGM, NABARD (J&K), senior functionaries of state government, senior executives of banks, Reserve Bank of India, NABARD and other developmental agencies.
Commenting upon the performance of the Banks, Chairman said, "The overall figures may not be discouraging as such but there are certain areas where performance is dismal and need collective effort to achieve the targets in a meaningful and comprehensive way. We need to develop an attitude favourable to the realization of our credit targets. "
He urged the participants "to introspect about these results and see how much we have done for our society. What are the gaps and how we can address these gaps?"
The Chairman took a strong note of poor performance in disbursement of credit in state sponsored schemes.
"Only 44 Crores of credit has been disbursed in such schemes against the target of 308 Crores which is a bare minimum of 14%", he said.
He said that by encouraging the disbursement in state sponsored schemes, the banking fraternity can contribute immensely to the welfare of the society and this can be one of the best CSR initiatives ever undertaken.
While giving the sector-wise break-up, the Chairman stated, "Under Agriculture sector banks have extended credit facilities aggregating Rs 198.29 Crores to 18546 beneficiaries as against ACP target of Rs 845.90 Crores favouring 138724 beneficiaries, registering an achievement of 23%.
"Under Small Enterprises Sector banks have disbursed credit facilities aggregating Rs 357.42 Crores in favour of 12139 beneficiaries as against target of Rs 1728.39 Crores in favour of 59601 beneficiaries registering an achievement of 21%.
"Under Micro Credit, against the target of Rs 474.97 Crores for 25979 beneficiaries the banks have disbursed Rs 64.45 Crores in favour of 3546 beneficiaries registering 14% achievement in financial terms.
"Under Education Sector, banks extended credit facilities aggregating Rs.12.11 Crores in favour of 1041 beneficiaries against ACP target of Rs.151 Crores for 4673 beneficiaries, registering an achievement of 8% in financial terms.
Under Housing Sector, he said, banks disbursed amount of Rs.282.46 Crores in favour of 11001 beneficiaries against ACP target of Rs.419.42 Crore for 8915 beneficiaries, registering an achievement of 67% in financial terms.
Referring to the difficulties faced by the banks in loan recovery especially under government sponsored schemes, the Chairman made a strong plea to the government for some serious consideration to improve the recovery scenario in the state. He stressed upon the importance of recovery of bank dues for recycling of funds.
Earlier, Mr. K K Saraf RD (J&K) RBI reiterated the importance of SLBC forum and impressed upon the banking fraternity and the state officials/agencies to work in a coordinated way to accelerate the process of economic development of the state.
Commenting upon the report, he remarked that the overall performance seems encouraging because of marked performance of J&K Bank. He emphasized that all the banks have to play a vital role and show better performance in the coming times.
A number of decisions that were taken during the meeting included the emphasis on the financial inclusion programme. A sub-group was formed to work out the modalities to take the initiative forward as the top most priority in line with the guidelines of government of India.
Moreover, all the member banks were advised to take necessary measures for substantially improving the Credit-Deposit ratio in the state.
The meeting concluded with the presentation made by the representative of Banking Codes and Standards Board of India (BCSBI). The presentation was aimed at generating awareness about the utility of banking codes and Standards in promoting fair banking practices and upgrading the level of customer service.