DC Srinagar chairs District Level Bankers Review Committee Meet

Self Employment opportunities go up 3 fold compared to previous Financial year generating employment for 114943 youth in the district

Major push given to PM-FME scheme to boost Food Processing sector during the last quarter

District attains CD ratio of 71 percent

SRINAGAR, March 18: A meeting of District Level Bankers Review Committee/District Consultative Committee (DLRC/DCC) was held under the Chairmanship of Deputy Commissioner (DC) Srinagar, Mohammed Aijaz Asad here at meeting hall of the DC Office Complex to review the performance of the Banks and other Financial Institutions under various Government initiatives and sponsored schemes.

At the outset, the Deputy Commissioner assessed the sector-wise performance of the Banks in implementation of different Government initiatives and 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 2017.36 crore has been disbursed among 43197 cases in Srinagar District under different schemes thereby generating self-employment opportunities for over 114943 unemployed youth of the District during financial year 2022-23.

The DC was informed that target of generating 1.50 lakh Self Employment avenues for youth of Srinagar District is set to be achieved during current financial year which is 3 times more than the 43000 accomplished during FY 2021-22.

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 33024.07 Crore and Advance at Rs 23418.30 Crore constitute 71 percent CD Ratio in quarter ended in December, 2022.

Besides, the banks operating in Srinagar have disbursed Rs. 4501.82 crore among 90904 beneficiaries under Annual Credit Plan for financial year 2022-2023, which Includes Rs 1084.97 Crore under priority sector and Rs 3416.85 Crore in non-priority sector.

The DC was further apprised that under Prime Ministers Mudra Yojna (PMMY) Scheme Banks operating in Srinagar have sanctioned Rs 593.46 crore among 18388 beneficiaries of the District as of February 28, 2022. Under the Pradhan Mantri Employment Generation programme (PMEGP), a total 1777 cases were sanctioned and an amount of Rs 96.49 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 109 cases have been sanctioned so far involving an amount of Rs 6.91 crore. Similarly, under TEJASWINI scheme 95 cases have been sanctioned with an amount of Rs 3.49 crore.

Similarly, under Pradhan Mantri SVANIDHI schemes, the Dc was informed that Rs 7.07 crore have been disbursed among  6043 Street Vendors and almost 100 percent of target has been achieved.

The DC also took over view of credit disbursement under PMF-ME scheme for which major push was given to boost Food Processing sector during last quarter.

He was informed that Rs 3.01 crore has been sanctioned against 15 cases so far under the scheme and other cases are in process.

The performance of RSETI, FLCCs, CFLs were also reviewed during the meeting.

Speaking on the occasion, the DC stressed on all the line departments and Banks operating in the District to further improve the credit facilities and educate the people about financial literacy through IEC activities besides 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.

 The DC also appreciated the LDM, his team and other stockholders for their work in enhancing CD ratio and improving their performance under priority and non-priority sectors.

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.

The DC emphasised on improvement of other schemes and flagship programmes of the Government and focused attention towards targets set for financial year 2023-24.

 Besides, Additional District Development Commissioner, Zahoor Ahmad Mir, the meeting was among others attended by  Chief Planning Officer, Mohammad  Yaseen Lone, GM DIC, Hamida Akhtar,  Lead District Manager, Abdul Majid, District officers, Cluster Heads of J&K Bank, representatives of Banks and financial institutions operating in Srinagar.