‘Rs 1398.43 cr disbursed among
37590 sanctioned cases generating self-employment for 87000 youth’
SRINAGAR: To review the performance of the banks and other financial Institutions under various government initiatives and sponsored schemes, a meeting of District Level Review Committee/District Consultative Committee (DLRC/DCC) was held on Friday under the Chairmanship of Deputy Commissioner (DC) Srinagar, Mohammed Aijaz Asad here at Meeting Hall of the DC Office Complex.
At the outset, the Deputy Commissioner took a sector wise performance of the banks in implementation of different government initiatives viz Back to Village-4.0, My Town My Pride-2.0 etc. He also reviewed the achievements of Banks in lending to priority/non priority sectors under Annual Credit Plan.
On the occasion, the DC was apprised that an amount of Rs 1398.43 crore was disbursed among 37590 sanctioned cases in Srinagar District under different self-employment schemes thereby generating self-employment opportunities for over 87000 unemployed youth of the District during last 3 quarters.
The DC was informed that as many as 1184 unemployed youth/beneficiaries were provided financial support to the tune of Rs 39.18 crore to establish their income generating units to earn livelihood under different self-employment schemes during Back to village-4 and My town My Pride-2.0 programmes.
While 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 32388.42 Crore and Advance at Rs 21979.58 Crore constitute 67.9 percent CD Ratio in quarter ended in September, 2022. Besides, the banks operating in Srinagar have disbursed Rs. 3147.47 crore among 70111 beneficiaries under Annual Credit Plan for financial year 2022-2023, which Includes Rs 835.51 Crore under priority sector and Rs 2311.95 Crore in non-priority sector.
The DC was further apprised that under Prime Ministers Mudra Yojna (PMMY) Scheme Banks operating in Srinagar have disbursed Rs 389.72 crore among 12231 beneficiaries of the District as of November 30, 2022. Under the Pradhan Mantri Employment Generation programme (PMEGP), a total 1583 cases were sanctioned and an amount of Rs 82.73 crore was sanctioned among beneficiaries.
While reviewing performance under Mission Youth schemes, for providing self-employment, the DC was informed that under the MUMKIN scheme, a total 245 cases have been sanctioned so far involving an amount of Rs 17.36 crore. Similarly, under TEJASWINI scheme 97 cases have been sanctioned with an Amount of Rs 4.79 crore
Speaking on the occasion, the DC stressed on all the line departments and banks operating in the district to improve the IEC activities to educate and sensitize the people about financial literacy about different banking products and government sponsored schemes particularly in rural and urban belts of Srinagar so that they can avail the benefits of such schemes by setting up income generating units. He also stressed on enhancement in the overall credit flow of banks in the District which is essential for financial impetus and improving income levels and thereby help in raising standard of living of people.
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.
On the occasion, the Deputy Commissioner also launched Rs 2825 crore Potential Linked Plan (PLP) 2023-24 of National Bank for Agriculture and Rural Development (NABARD) for Srinagar District which shall act as a guiding document to the Bankers for optimal utilization of Credit for development.