J&K Bank conducted a District Level Review Committee meeting at Conference Hall DC Office Budgam which was chaired by DDC Budgam Mir Altaf to review the progress and performance of financial Institutions, banks and sponsoring agencies in economic developmental activities for the quarter ended 30th June.
The Bank’s Lead District Manager Budgam Shahzad Hussain Teli briefed the house about the achievements of the banks operating in the district under the District Credit Plan 2015-16.

He informed the house that all the Banks have disbursed a total amount of Rs 198.52 Crores to 9613 units during the quarter thus achieved 36.55% against the target of Rs 543.06 Crores.

The Credit Deposit Ratio of the Banks in the District has reached to 78.99% against the 60% benchmark.

Under Priority Sector Banks have disbursed Rs 165.96 Crores to 7933 units against the target of Rs 401.57 Crores thereby achieving 41.32%.

Under Non Priority Sector an amount of Rs32.56 Crores have been disbursed to 1680 units against the annual target of Rs141.49 Crores during the period under review and achieved 23% of the annual target for the year 2015-16.

Speaking on the occasion, DDC Budgam said, “Unemployment is the biggest challenge before us, so the banks and other agencies need to dedicate themselves for sponsoring more and more cases for establishment of new income generating units in the District.”

He urged the banks and financial institutions should provide hassle free services to the beneficiaries by granting financial assistance to the educated and skilled persons.
He also advised the participants to educate the people in rural, urban and far flung areas about the various facilities/schemes launched by Central/State Governments, banks and other departments for economic development and social security.

The Meeting was attended by ADC Budgam, CPO Budgam, RBI Representative, District Bank Coordinators, DDM NABARD, Director RSETI Budgam, Sectional Heads of Line Departments, Block Development Officers and other dignitaries of the district administration.

The meeting ended with the vote of thanks with this hope that the targets will not only be achieved but surpassed.

Meanwhile, sponsored agencies and departments have also sponsored a sizeable number of 835 cases for an amount Rs 9.46 Crores at the end of the first quarter of the year against the target of 2651 cases for the year 2015-16. The Banks have sanctioned 355 cases for an amount of Rs 3.58 Crores, out of which banks have disbursed Rs 2.22 Crores to 246 beneficiaries for establishment of new income generating units.

The newly launched schemes under PMJJBY, PMSBY, APY and Suraksha Bandhan Schemes were also discussed in the meeting.

Baramulla Camps
The Bank’s Financial Literacy and Credit Counseling centre Baramulla organized a financial literacy camp in collaboration with the bank’s Business Unit Haigaam at Government Higher Secondary School in Village Haigaam of Block Sopore regarding Prime Ministers Jhan Dhan Yojna and other schemes of the bank.
A large number of students and teachers along with Principal and Vice Principal of the school attended the camp.

Speaking on the occasion, Facilitator FLCC Budgam Mohammad Sultan Dar educated the audience about financial planning, budgeting, savings, and advantages of savings with banks, concept of Business Correspondents, khidmat centres and different type of borrowings.

The facilitator also deliberated upon Kissan Credit Card Scheme, Education loan scheme and various income generating loan products of banks for awareness of the audience.
He explained to them about Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojna.

Speaking on the occasion Vice Principal of the school thanked the bank for arranging the financial literacy camp in the campus and advised the students to spread the message in their respective areas so that others too are benefitted from the friendly products of the Bank.

Faculty RSETI Budgam and Head B.U Haigaam also spoke on the occasion. Certain clarifications were sought by the audience regarding the newly launched social security schmes, artisan loans and various products of bank which were duly clarified by the speakers on spot.

Similar camp was organized in Government High School at Village Seeloo  in Block Zaingeer.

Meanwhile, Block Level Bankers Committee Meeting for Tangmarg and Kunzer blocks were conducted by Lead Bank Office Baramulla in the premises of J&K Bank Business Unit Tangmarg.