J&K Bank conducts Shopian DLRC/DCC Meet
Srinagar, Mar 5: J&K Bank conducted a District Level Review Committee/District Consultative Committee (DLRC/DCC) meeting of the district Shopian to review the achievements made during the third quarter of the current fiscal under the annual District Credit Plan (DCP) for the financial year 2019-20.
Organised at the District Administrative Complex Shopian, District Development Commissioner (DDC) Chaudhary Mohammad Yasin (IAS) chaired the meeting that was attended by LDO RBI, DDM NABARD and bankers and district level officers of various government departments.
The Lead District Manager (LDM) Gh. Rasool Dar informed the house that the total credit exposure of all the banks operating in the district as on 31st December, 2019 has been to the extent of Rs.1248.84 Cr against the district’s deposits of Rs 1131.02 Cr taking the CD Ratio to 110.42 percent. The percentage of priority sector advances to total advances is at 83 percent against the mandatory requirement of 40 percent.
“The banks have disbursed Rs 660.26 Cr to 19076 beneficiaries during the quarter under review thereby achieving the financial targets by 50 percent & physical targets by 49 percent against the target of Rs 1328.42 Cr for 39309 beneficiaries under DCP 2019-20. The share of the of Agriculture Credit in the District Plan was recorded at Rs 494.56 Cr against Target of Rs 1103.04 Cr for the year 2019-20’ , he said.
On the occasion, Chairman DLRC/DCC advised all the banks and the sponsoring agencies to work with cooperation, coordination and cohesion for the development and progress of the area and to achieve the desired financial goals besides helping generate employment for the youth of the district. He also directed all the line departments and banks to conduct programs at village and block levels to further financial education of the people.
Notably, J&K Bank contributed 90 percent of the targets in financial terms by disbursing Rs 594.70 Cr out of the total disbursement of Rs 660.26 Cr by all banks operating in the district during the third quarter.