J&K Bank convened a District Level Review Committee meeting of Baramulla at Meeting Hall Dak Bungalow to review achievements under District Credit Plan (DCP) 2012-13. DDC Baramulla chaired the meeting that was attended by all the representatives of all the financial institutions operating in the district and officials from all the line departments.
Lead District Manager (LDM) Baramulla placed before the house the details of achievements made by the financial institutions as on 30th Sep 2012, under DCP of Rs. 685.12 crore with priority sector portion of Rs. 550.12 crore.
He said, “With disbursement of Rs.294.11 crores to 14638 beneficiaries under the priority sector lending, the district has recorded an achievement of 53.46% against the annual credit plan fixed for the year 2012-13.”
Under priority sector, the banks have provided Rs 202.61 crores to agriculture, Rs 69.65 crores to small enterprises and Rs 21.85 crores to service sector, he added.
Under Priority Sector lending the district has achieved a YoY growth of 12% while as loans to weaker sections have grown (YoY) at 16.65%, he informed the house.
Speaking on the occasion, DDC Baramulla advised all the banks and the sponsoring agencies functioning in the district to work in coordination so that the targets of development are achieved that will in turn help in eradication of unemployment also.
He emphasized upon various government and other agencies of the district to conduct awareness programmes at Village levels to create proper awareness among the people.
Meanwhile, the Bank organised a financial literacy camp at New Childcare Secondary School Boniyar in Baramulla, which was attended by students, staff of the school and other local residents.
Facilitator FLCC Baramulla gave a brief background of FLCC centres their role in the awareness regarding financial literacy by holding such camps.
He talked at length about no-frill accounts, smart cards and other products of the Bank.
He underlined the importance of maintaining savings accounts with the bank so that the incentives in the shape of subsidies and wages under MNREGA are directly credited to the beneficiaries’ accounts without interference of middleman.
Head B.U Boniyar informed the audience about education loan, laptop finance and Kissan Credit Card. He also threw light on various deposit schemes including Mehandi and childcare.
LDM Baramulla defined the role of banks especially lead bank in the development of the states by way of formulation of credit plans under various sectors and their distribution among various banks for ensuring hassle free flow of credit to these sectors.