Reviews performance of financial institutions for Quarter 4th, 2023-24
SHOPIAN: The District Development Commissioner (DDC) Shopian, Faz Lul Haseeb today presided over the District Level Review Committee (DLRC) cum District Consultative Committee (DCC) meeting to review the performance of financial institutions of the district for quarter 4th ended 3Ist March, 2024 of FY 2023-24, at Mini-Secretariat, here.
The meeting held in-depth discussions regarding the performance of banks during the fiscal year 2023-24. It was intimated that the deposits of the district increased from Rs.1557.49 crores as on March 31, 2023 to Rs. 1608.53 crores as on March 31, 2024 thereby registering a growth of 03 % on YOY basis and has shown an increase of 01% on a quarterly basis from Rs.1591.68 crores as on 31 December, 2023.
The advances of the district increased from Rs. 1918.54 crores as on March 31, 2023 to Rs. 2122.98 crores as on March 31, 2024 thereby registering a growth of 11% on YOY basis and 3% on a quarterly basis from Rs.2069.45 crores as on 31 December, 2023.
The priority sector advances of the district have increased from Rs. 1163.03 crores to Rs. 1306.33 crores, registering an increase of 12% on YOY basis and 5% increase on a quarterly basis. Non-priority sector advances of the district increased from Rs.788.54 crores to Rs.816.54 crores, thereby registering a growth of 8 % on YOY basis.
DDC on the occasion impressed for improving farm credit lending by covering more farm operating families under KCC with focus on accelerating agricultural infrastructure building.
He gave special attention to the sponsorship cases of employment creation and entrepreneurship development schemes for youth and called for identifying beneficiaries and ensuring the smooth flow of credit to them through the convergence of assistance from government-sponsored schemes.
He instructed banking institutions to increase credit flow in the priority sectors and in sponsoring cases of departments for livelihood creation as per the targets fixed bank wise, as per timelines.
The DDC reviewed the bank wise performance in various government sponsored schemes including PMEGP, Mission Youth schemes, NRLM, KCC, NULM, WCC, MUDRA, Stand Up India, JKREGP, etc.
He highlighted the significance of social security schemes and instructed the concerned for enhanced coverage of people under these schemes by organising result oriented conduct of awareness camps in the district.
Director, RSETI informed about the training courses being imparted at the institute, with 456 trainees trained during FY, 2023-24 against the target of 450, out of which 275 trainees were provided bank finance, with settlement ratio of 93%.
The meeting was attended by Lead District Manager, Farooq Ahmed; DDM NABARD, Cluster Head JK Bank, Director RSETI, heads of line departments, heads of financial institutions, and other agency heads.