Only 48 percent cases settled under GSS in Budgam

SRINAGAR: The banks in central Kashmir Budgam district financed only 48 per cent of the cases under various Government Sponsored Schemes (GSS) till December end of the current fiscal.
According to the information revealed in the District Level Review Committee (DLRC) convened Wednesday by the J&K Bank, “under GSS, the banks have financed only 48 per cent of the cases sponsored by various departments till December 2014”.
The Committee was told that against the annual target of 5,514 cases, the banks have granted financial assistance to 1,787 beneficiaries for establishing new income-generating units, registering a growth of 23.11 per cent.
Taking a serious note of performance of the banks under GSS, Chairman DLRC and District Development Commissioner Budgam, Mir Altaf, asked all the stakeholders to “work with zeal” and provide “all types of facilities” to the people of the district.
RBI’s representative Ravinder Koul , who was present in the meeting, also urged the bank coordinators and sponsoring agencies to improve their performance and to increase the figure under GSS at the end of the financial year 2014-15.
J&K Bank Lead District Manager Shehzad Hussain Teli informed the Committee about achievements of the banks operating in the area till Q3 of the current fiscal.
“The Banks operating in district Budgam have surpassed the credit targets under Priority and Non Priority Sector. The banks have achieved Credit Deposit Ratio of 76.42% in the quarter ended December, 2014 against 60% recorded earler,” he said.
He said, under Priority Sector, the banks have disbursed Rs 496.74 crore against the set target of Rs 365.72 crore for the financial year 2014-15, registering a growth of 135.82 per cent.
An amount of Rs 130.81 crore has been disbursed under Non-Priority Sector against the target of Rs 122.crore, marking a growth of 107.02 per cent, he added. Meanwhile, J&K Bank said it participated in an Employment Fair in Reasi in Jammu region.
The camp was organised jointly by District Administration and Indian Army at the local Mini Stadium. On the occasion, the Bank’s Cluster Head Vibhakar Khajuria conducted an awareness camp for unemployed youth and informed the visitors about various employment schemes of the Bank.
The Bank said it has disbursed Rs 60 lakh were disbursed among the beneficiaries on the occasion under different employment schemes.