Omar For Enhancing Credit Flow By Banks

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Lays foundation of school building, inaugurates bank branch

Lauds J&K Bank

Says Universalisation Of Education Government’s Priority

Ganderbal – Chief Minister, Omar Abdullah Monday underlined the need for enhancing credit flow by financial institutions to help economic growth and generate employment avenues for youth. This, he said, would also boost agriculture production and encourage entrepreneurs to launch independent livelihood earning ventures.

“Agriculture and allied sectors are thrust areas and easy advances to farmers is imperative for timely conduct of agricultural practices required for good yield”, he said and asked the banks to fulfill their corporate sector responsibility.  

Speaking at a function after inaugurating Jammu and Kashmir Bank branch at Waliwar here, the Chief Minister appreciated the efforts of the Bank in reaching out to people and helping their economic growth.

Omar Abdullah said that the active support of Jammu and Kashmir Bank to flourish MSME sector and give considerable fillip to SKEWPY initiative is of significant importance. “With the growth of business and deposits there should be remarkable increase in credit flow from banks to agriculturists, traders and young entrepreneurs”, he said stressing on the need of striking balance in the credit-deposit ratio.

The Chief Minister praised Jammu and Kashmir Bank and its Chairman for the growth and development shown by the Bank and rendering remarkable service to the people. He said that the expansion of Bank branches across the State and generation of employment besides extending financial support by the Jammu and Kashmir Bank to micro, small and medium enterprises is noteworthy.

The Chief Minister also handed over Kissan Credit Cards to over a dozen of farmers out of about 2500 beneficiaries who received the cards at the occasion. The Chief Minister had directed for fast tracking of issuance of Kissan credit cards to farmers in the last State Level Bankers’ Committee meet.

Omar Abdullah who also represents Ganderbal Assembly Constituency in the State Legislative Assembly listed development projects started in Ganderbal and said that the foundation for construction of Centre University complex will be laid during the next month assuring the constituents of his keenness to ensure equitable and balanced development of all areas across the State including that of Ganderbal Assembly Segment. He also said that the construction work of new 93 megawatt new Ganderbal project will be started soon.

Speaking on the occasion, Minister for Forests, Mian Altaf Ahmad who was accompanying the Chief Minister listed the major achievements and path breaking measures of the Omar Abdullah-led government to ensure equitable development in the State and upgrade basic amenities especially in the far-flung and remote areas. He said that under the dynamic leadership of the Chief Minister the government has implemented a comprehensive policy of reaching out to people in all areas equitably. He said government has empowered common man and provided him opportunity to be part in the development process and formulation of policy planning.

Mian Altaf said that various new projects have been started in Ganderbal district to generate economic activities and help all round development.

Welcoming the Chief Minister on the occasion, the Chairman Jammu and Kashmir Bank, Mushtaq Ahmad said that Jammu and Kashmir Bank is having major presence in the State through its branch network of 520 units out of 1350 branches of all Banks functioning in the State. He said priority sector advances of Jammu and Kashmir Bank constitute 61.56 percent of total priority sector advances of all Banks in Jammu and Kashmir. He said under the financial inclusion plan for unbanked villages with population of more than 1000 but less than 2000, as many as 1093 villages have been allotted to the Bank. Out of these, 400 villages have already been covered while the rest would be covered by March 31, 2013.

The Chairman said that since 30th September 2010 till today Jammu and Kashmir Bank has opened 100 branches and added 250 ATMs increasing the number of 18 across the Country to 559 and 490 in the State. He said the Bank plans to open 100 new branches and 150 ATMs during 2012-13 financial year. He said all branches of the Bank except 2 at Marwah and Dachhan have been computerized. He said Jammu and Kashmir Bank has recruited 1800 personnel during the last two years.

He said that Jammu and Kashmir Bank has commissioned 713 Khidmat Centres so far and a target of opening 900 centres by 31.12.2012 has been fixed in this regard. He said Jammu and Kashmir Bank has taken a lead role in operationalization and implementing SKEWPY while playing a development bank role by increasing financing in agriculture, horticulture, tourism, hotel industry and MSME sector.

He said 14 Bank branches and 16 ATMs are functioning in district Ganderbal adding that the Bank has advanced Rs. 311 crores while its deposits are Rs. 508 crore. He said the number of Bank branches in the district with today’s inauguration of Waliwar branch has gone to 15. He said the total number of Jammu and Kashmir Bank branches have moved up to 628 across the Country of which 521 are in the State.

The Chief Minister also laid foundation of Rs. 97.23 lakh double storey building for Government Boys Higher Secondary School at Lar. He said universalization of education is the priority sector flagged by the coalition government. He said construction of new buildings and shifting of government schools from rental accommodation to State owned buildings is receiving top priority.

The Chief Minister said that imparting quality education and making educational institutions centres of excellence is receiving necessary impetus alongwith moral education. He said better infrastructure and quality teaching staff is being provided to schools across the State. He said Sarva Siksha Abhiyan and RMSA initiatives are being utilized to upgrade educational sector in the State. The Chief Minister stressed the need on girl education and asked the Education Department to work for enhancing enrollment of girls in the schools.

The double storey building for Boys Higher Secondary Lar will have 10 class rooms with other facilities and it is likely to be completed within 12 months period.

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