DDC Reasi reviews performance of banks, charts path for growth in 2023-24

REASI, December 19: The performance of banks and other financial institutions for the 2^nd quarter of the current fiscal was reviewed today here at a meeting of District Level Credit Committee and District Level Review-cum-Consultative Committee (DLRC) chaired by District Development Commissioner Reasi Vishesh Mahajan.

The overall performance for 2nd quarter under Annual District Credit Plan (ADCP 2023-24) stands at Rs.690.90 Crores as on Sept, 2023 which constitutes 59% achievement against total  target of Rs.1171.07 Crores.

The achievements under priority sector advances were to the tune of Rs 291.98 Crores against the target of Rs 903.19 Crores which constitutes 32.32% achievement, while as under non-priority sector the achievements are to the tune of Rs 368.92 Crores against target of Rs 267.68 Crore  which constitutes 149% of targets.

 The deposits of the banks in the District were to the tune of Rs 3403.86. Crore as on Sept 30, 2023 compared to Rs 3440.84 Crore as on March 31, 2023. The advances of the banks stood at Rs.1704.68 Crore  as on Sept 30, 2023 against Rs 1570.23 Crore as on March 31, 2023 thereby registering an increase of Rs.134.45 Crores which constitutes 8.56% Growth.

Addressing the participating members, the District Development Commissioner suggested a host of measures to improve the penetration of banking in un- banked areas which will include moving mobile vans under the banner “BANK AAP KE GAON MEIN”.

DDC Mahajan sought participation of all the financial institutions and government departments for implementation of the Annual Credit Plan in letter and spirit to ensure 70% achievements in the Priority Sector and full saturation of Social Security Schemes.

To achieve these targets all the banks were advised to work with co-operation, coordination and cohesion with sponsoring agencies  to achieve the targets  and generation of employment for youth of the district and increase Agriculture Credit flow. Public Sector Banks operating in the District  were  advised to  conduct meaningful awareness camps at village/block levels to create  mass awareness and build  confidence  among the youth about the schemes.