Rs 2315.96 Cr disbursed among 53044 beneficiaries under different schemes in Srinagar’

DC Srinagar chairs District Level Bankers Review Committee meet
Rs 2315.96 Cr disbursed among 53044 beneficiaries under different schemes in Srinagar’

Srinagar: Deputy Commissioner (DC) Srinagar, Mohammed Aijaz Asad Tuesday chaired a meeting of District Level Bankers Review Committee/District Consultative Committee (DLRC/DCC) here to review performance of the Banks and other Financial Institutions under various Government initiatives and sponsored schemes for quarter ending March, 2023.

At the outset, the DC took a sector wise performance of the Banks in implementation of different Government schemes and reviewed the achievements of Banks in lending to Priority/Non Priority sectors under Annual Credit Plan.

Reviewing the Bank-wise movement of CD Ratio in the District, the DC was informed that total deposits of the District Srinagar stood at Rs 34367.25 crore and Advance at Rs 24005.15 crore constitute 71 percent CD Ratio in the quarter ended in March, 2023.

Besides, the Banks operating in Srinagar have provided a total credit of Rs. 5205.10 Crore in favour of 99327 beneficiaries under under both Priority as well as Non-Priority Sector during Quarter ended March 2023 for financial year 2022-2023.

The DC was apprised that an amount of Rs 2315.96 Crore has been disbursed among 53044 beneficiaries in Srinagar District under different schemes thereby generating self-employment opportunities for over 138420 unemployed youth of the District during financial year 2022-23.

The DC was further informed that the target of generating 1.40 lakh Self-Employment avenues for youth of Srinagar District was set to be achieved during financial year 2022-2023 which is 3 times more than the 43000 accomplished during FY 2021-22.

The DC was further apprised that under Prime Ministers Mudra Yojna (PMMY) Scheme Banks operating in Srinagar have sanctioned Rs 593.46 Crore among 18388 beneficiaries of the District during Financial year 2023-23. Under the Pradhan Mantri Employment Generation programme (PMEGP), a total 2086 cases were sanctioned and an amount of Rs 114.11 Crore was sanctioned among the beneficiaries.

Under Mission Youth schemes, for providing self-employment, the DC was informed that under the MUMKIN scheme, a total 109 cases have been sanctioned so far involving an amount of Rs 6.91 Crore. Similarly, under TEJASWINI scheme 95 cases have been sanctioned in the District with disbursement of Rs 3.49 Crore.

Similarly, under Pradhan Mantri SVANIDHI schemes, the DC was informed that Rs 8.72 crore have been disbursed among 6685 Street Vendors in the District.

During the meeting, the performance of RSETI, FLCCs, CFLs were also reviewed, besides enrolment under different Social Security Schemes including Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)/Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal pension Yojna (APY).

The DC also asked the Banks to implement the ‘100 Days 100 Pays’ campaign launched by the Reserve Bank of India (RBI) to return unclaimed deposits by identifying genuine beneficiaries. It is to be noted that the balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as "unclaimed deposits".

The DC also asked the banks and all line Departments to encourage novice entrepreneurs under economic activities to inspire them for setting up viable income generating units in the district. He called upon officers to work in unison with added vigour and zeal and set realistic targets so that desired results are achieved within the set timeline.

The DC emphasised on improvement of other schemes and flagship programmes of the Government and focused attention towards targets set for financial year 2023-24.

The meeting was among others attended by Chief Planning Officer, Mohammad Yaseen Lone, GM DIC, Hamida Akhtar, Lead District Manager, Abdul Majid, District officers, Cluster Heads of J&K Bank, representatives of Banks and financial institutions operating in Srinagar and LDO RBI.

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