Contribute towards development under CSR: DC to banks

Calls for integrated linkage between district credits, development plans

GKNN
Srinagar, Publish Date: Aug 10 2018 12:56AM | Updated Date: Aug 10 2018 12:56AM
Contribute towards development under CSR: DC to banksGK Photo

District development commissioner (DDC), Syed Abid Rasheed Shah Thursday chaired a district level review committee (DLRC) meeting of Lead Bank Office here to review progress of banks during first quarter of ongoing financial year.

The meeting reviewed performance of banks in areas of deposits and advances besides reviewing sector-wise performance under the district credit plan 2018-19 and status of their achievements in area of implementation of various schemes.

The meeting was informed that under the credit plan Rs 504 crore has been disbursed under various schemes in priority sector, including Rs 329 core under MSME, Rs 100 crore in agriculture sector and Rs 57 crore under housing sector. Disbursements made in non-priority sector as on 30 June include Rs 1,305 crore.

It was informed that credit deposit ratio (CDR) in the district at end of the quarter ending 30 June stands at 51 percent which is 2 percent higher since previous quarter ending 30 March 2018, adding total deposits and advances during quarter include Rs 21281 and Rs 10766 crore respectively.

The DDC emphasised that banks must be positive and instrumental in credit dispensation and increase CDR to benchmark level fixed by RBI. He noted with satisfaction enhanced credit lending under agriculture sector but called on all banks to increase lending under education sector.

Shah called on Lead Bank to come up with a comprehensive plan for linking credit plan with district development plan to catalyze positive development. 

Smart City Limited officials present on the occasion called on all banks to support them and help make Srinagar Smart City project a success. Shah who is CEO of special purpose vehicle for Smart City Project impressed upon all banks to play their role as identified in the corporate social responsibility (CSR) and direct 2 percent of profits towards development of the district as mandated upon them under companies Acts.

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