Rs 627.79 cr Potential Linked Credit Plan approved for 2017-18
BUDGAM: Budgam district till December last year has achieved a CD ratio of 67.13 percent surpassing the RBI benchmark by 7.13 percent.
This was disclosed during the 58th District Level Review Committee meeting held under the chairmanship of District Development Commissioner, Mir Altaf Ahmad to review the progress of line departments and Banks with respect to economic development of the district.
Giving details about performance of Banks, as on December 2016, operating in the district, it was informed that total deposits in the district have increased from Rs 1624.26 crore to Rs 1982.24 crore.
Similarly, advances have increased from Rs 1264.26 crore to Rs.1330.63 crore, while as CD ratio is at 67.13% which is 7.13 percent above the RBI bench mark.
Officers of concerned departments, DDM NABARD, representatives from RBI, Cluster Head of J&K Bank and District Coordinators of various Banks operating in the district attended the meeting.
The meeting discussed in detail progress and achievements made by the Banks in implementation of various government sponsored schemes like Pradhan Mantri Jan Dhan Yojana, MUDRA Yojana, Fasal Bhima Yojana, NULM and Stand-up India.
It was apprised that under priority sector, the banks have disbursed Rs 119.53 crore against the target of Rs 508.80 crore and under non-priority sector have disbursed Rs148.68 crore against the target of Rs 155.22 crore, thus registering the achievement of 23.57 percent and 95.78 percent respectively against the annual targets.
While reviewing the progress achieved in Central/State Sponsored Schemes and under Social Security Schemes, the DDC appreciated the role of sponsoring agencies and Banks for participating in the implementation of schemes during the month of January and February-2017.
He also directed officials of Banks to expedite the sanctioning of pending sponsored cases, as they have pivotal role in economic uplift of general and weaker sections of the society.
On the occasion, the DDC approved Potential Linked Credit Plan of Rs 627.79 crore for fiscal year 2017-18.