Rs 50 cr margin money released to 2455 unit holders this fiscal | Banks must refrain from rejecting cases on flimsy grounds, process the cases as per timelines fixed: VC KVIB

Dr Hina Bhat presides over Bankers’ review meeting
Rs 50 cr margin money released to 2455 unit holders this fiscal | Banks must refrain from rejecting cases on flimsy grounds, process the cases as per timelines fixed: VC KVIB
GK Photo

Srinagar, Nov 9: Vice-Chairperson J&K KVIB, Dr Hina Shafi Bhat cautioned banks to avoid dismissing cases on tenuous justifications. She counselled bankers to convey instructions to financing bank branches so that cases are processed in accordance with deadlines set forth in the standards.

Dr Hina Bhat presided over the Bankers Review meeting of J&K KVIB Kashmir Division today at Sanat Ghar Bemina Srinagar.

Senior officers from the Board, officers from participating banks and district officers of KVIB Kashmir division attended the said meeting.

Deputy CEO KVIB-KD placed the District-wise/ Bank-wise performance before the chair for discussions.

 During the meeting, it was informed that as of date, Margin Money of Rs 50 crores has been released to 2455-unit holders thereby creating employment opportunities for 19640 persons, during the current financial year.

Vice Chairperson appreciated the role of participating banks in the successful implementation of the Prime Ministers Employment Generation Programme and Jammu and Kashmir Rural Employment Generation Programme.

She however cautioned banks to refrain from rejecting cases on flimsy grounds. She advised bankers to pass on directions to financing bank branches to process the cases as per timelines fixed in the guidelines. She further highlighted the tendencies at banks beyond timelines.

She reiterated the need for synchronised efforts by implementing agencies and banks to ensure that the benefits are percolated among the target population.

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