Banks operating across J&K have advanced Rs 2,537 Cr (Rs 1200 cr in Kashmir, Rs 1277 cr in Jammu and Rs 60 cr in Ladakh) in the first nine months of last fiscal ending December 2008 of which Rs 1,240 Cr falls in the priority sector. Against the yearly priority lending target of Rs 1910.82 Cr, The banks have achieved 65 percent target in financial terms but only 40 percent in physical terms.
Of this, as usual, credit off take from J&K Bank is at Rs 733.97 cr.By the end of December, banks were holding deposits of Rs 30,606.35 cr of which they had advanced only Rs 14,223.66 cr in J&K making it a CD ratio of 46.47 percent for the banking sector in the state. Banking leader in the state J&K Bank had advanced Rs 9634.74 cr against its Rs 17,842.51 cr deposits in the state that has pushed its CDR to 54 percent. Two major public sector players, SBI and PNB, had overall advance of Rs 1410.12 cr and Rs 736.20 cr respectively against the respective deposits of Rs 4745.91 cr and Rs 2119.52 cr. They have CD ratio of 30 percent and 35 percent respectively. Of the overall priority sector lending, Rs 380.46 cr has gone to Small Enterprises, Rs 312.07 cr to Retail Trade, Rs 257.40 cr to agriculture, Rs 154.65 cr to housing, Rs 95.30 cr to micro credit and Rs 40.57 cr to education. For the current fiscal (2009-10) the banks have approved an annual credit plan of Rs 3,701.75 cr of which Rs 2308.69 cr must go as priority sector lending.