JK Bank outperforms others, achieves 184% credit targets
85TH SLBC REVIEWS BANKS’ PERFORMANCE
Srinagar, May 28: While describing sector-wise performance of banks under ACP as at the Financial Year 2011-12, the Chairman & CEO J&K Bank, Mushtaq Ahmad said that under agriculture sector banks have extended credit facilities aggregating Rs 929.16 crores to 69,853 beneficiaries against a target of Rs 846.06 Crore favoring 1,38,748 beneficiaries, registering an achievement of 110 per cent .
He said that under small enterprises sector, banks have disbursed credit facilities aggregating Rs.1, 381.81 crore in favour of 41,996 beneficiaries against ACP target of Rs.1, 725.95 crore in favour of 59,531 beneficiaries, thus registering an achievement of 70 per cent in financial terms.
Under Micro Credit Sector, banks have disbursed credit facilities aggregating Rs.350.53 crore in favour of 19,752 beneficiaries against ACP target of Rs.476.41 for 26,005 beneficiaries, registering an achievement of 74% in financial terms.
Under Education Sector, banks have extended credit facilities aggregating Rs.67.69 Crore in favour of 4,096 beneficiaries against ACP target of Rs.151.36 Crores for 4,686 beneficiaries, registering an achievement of 45% in financial terms, and
Under Housing Sector, banks have disbursed an amount of Rs.1,151.65 Crore in favour of 43,483 beneficiaries against ACP target of Rs.419.91 Crore for 8,922 beneficiaries, registering an achievement of 274% in financial terms.
Speaking at 85th SLBC meeting, Ahmad said financial inclusion is the highest priority for extending benefits of economic prosperity to the excluded segments and realizing the objective of inclusive growth, for which a number of initiatives have been launched by the Government of India to be prioritized and accomplished as per targets.
He stated that the progress in respect of the Financial Inclusion Plan (FIP) of J&K State for providing of banking services through various ICT-based banking outlets including BCs in the 795 identified un-banked villages having population over 2000 is encouraging, as 727 villages have already been covered by the end of 31st March, 2012. He expressed the hope that the left over 68 villages would be covered very shortly.
He informed that GoI, ministry of finance have recently announced the timelines, i.e. 31st March 2013, for the second phase of coverage of the un-banked villages having population of over 1000 but less than 2000 and expressed optimism that the concerned participating banks will proceed forward seriously and take concrete steps to accomplish the target within the prescribed timelines.
The Chairman expressed satisfaction that there are no more un-banked blocks in the State as new bank branches have since been opened in all the 5 such blocks identified earlier stand. He, however, commented that that the process of implementation of the Branch Expansion Plan in the State has been slow and desired that banks shall expedite the process and ensure opening regular brick and mortar branches in larger habitations with population of 5000 within the prescribed timelines and as per the directions of GoI, MoF directives.
He expressed satisfaction that continuous focus to improve has yielded desired results and a performance of 110% of the target in financial and & 51% in physical terms has been registered during the FY 2011-12 for the first time ever. During the period under review the credit disbursement under sponsored schemes has increased to Rs.237.36 Crore as on 31.03.2012 as compared to Rs.190.49 Crore as on 31.03.2011. He also expressed the hope that considering the seriousness of banks as well as the State Government for creation of more & more employment generation opportunities and ventures, the performance will further improve in future.
Commenting on the performance of banks under Government Sponsored Schemes in the State, the Chairman and CEO of J&K Bank stated that against the Annual ACP target of 214.90 Crore for 18,788 beneficiaries for all banks operating in the State, the achievement of banks at the end of December 2011 under five major Government Sponsored Schemes, viz. SGSY, PMEGP, JKSES, SJSRY and SC/ST/OBC has been of the order of Rs.237.36 Crore spread over 15,584 beneficiaries in all the three regions of the State.
Lastupdate on : Mon, 28 May 2012 21:30:00 Makkah time
Lastupdate on : Mon, 28 May 2012 18:30:00 GMT
Lastupdate on : Tue, 29 May 2012 00:00:00 IST
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