Banks in J&K extend Rs 10847.22 Cr credit up to Q3′

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Srinagar: J&K Bank today convened the 100thState Level Bankers’ Committee meeting at Jammu, which was presided over by J&K Chief Secretary B R Sharma.

Briefing the house on the occasion J&K Bank Chairman & CEO and Convener JKSLBC Mushtaq Ahmad said, “The banks operating in J&K have extended credit of Rs 10847.22 Cr to 308609 beneficiaries up to Q3 of Current Financial Year (CFY) thereby registering an achievement of 46 pc of the Annual Credit Plan (ACP) target in financial terms.”

“J&K Bank alone has disbursed Rs 6958.76 Cr to164268 beneficiaries, which accounts for 64 pc of the total credit disbursed by all banks and financial institutions operating in the state during the said period”, he added.

“The total credit extended by all the banks includes Priority Sector credit of Rs 6659.11 Cr disbursed to227512 beneficiaries, which is 45 pc achievement in financial terms against the target of Rs 14804.83 Crbesides Non-priority Sector credit of Rs 4188.10 Cr, which is 48 pc achievement in financial terms against the target of Rs 8800.40 Cr”, he said.

Presenting the comparative figures of the banking scenario of the State for the last two decades Convener SLBC stated that number of bank branches had gone up from 853 to 1960; total deposits of the banking sector have grown from Rs 3735.08 Cr to Rs 81895.02 Cr; total advances in the state have increased from Rs 1510.84 Cr to 41015.33 Cr while as advances to priority sector have shot up to Rs 20912.33 Cr from Rs 477.42 Cr; the size of ACP of the State in the year 1995 used to be just Rs 190.52 Cr and now ACP for FY 2015-16 stood at Rs 23605.23 Cr.

 

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