Banks maintain a healthy Credit-Deposit ratio of 91% in Kulgam

Banks maintain a healthy Credit-Deposit ratio of 91% in Kulgam
Photo: Jammu and Kashmir Information Department

Kulgam, Sep 19: To review the performance of Banks and line departments for quarter Q1, ending June under Annual Credit Plan and Govt Schemes, a District Level Review Committee/ District Consultative Committee (DLRC/DCC) meeting was today held at a mini-secretariat here under the Chairmanship of Deputy Commissioner (DC) Kulgam, Dr Bilal Mohi U Din Bhat.

During the meeting, LDM Kulgam apprised the chair that deposits of Banks increased from Rs 2119 crore as of 30.06.2022 to 2236.49 crore witnessing growth of 5.25 % during the current financial year. Advances have grown from Rs, 1818.22 crore to 2050.63 crore witnessing 11.33% growth during the current financial year.

It was also shared that the Credit Deposit Ratio at 91.69% of the district stood quite above the National benchmark of 60%.

During the meeting, the chair was informed that there are 56 bank branches in Kulgam with 50 ATMs, and the chair was also briefed about the extension plan of branches and ATMs.

The DC instructed the concerned to expedite the installation of ATMs at Frisal, Aharbal, Chowgam and other places as per norms. DC while reviewing sector-wise achievements stressed upon Banks to improve credit dispensations in the priority sector including Agriculture, and MSME. He also instructed the concerned to give more focus to the housing and education sectors.

While deliberating on the significance of social security schemes, the DC impressed upon banks, and departments to cover all eligible persons under PMSBY, PMJJBY and APY and asked for conducting special camps in various areas to achieve the target in coordination with departments of Revenue, RDD, Labour, MCs etc.

Related Stories

No stories found.
Greater Kashmir