*Potential Linked Credit Plan 2016-17 released
Excelsior Correspondent
Udhampur, Dec 24: Deputy Commissioner, Udhampur, and Chairman District Level Consultative Committee & District Level Review Committee of Banks (DLCC/DLRC), Dr Shahid Iqbal Choudhary has asked Reserve Bank of India for initiating serious action against banks defaulting in extending credit to youth under various departmental schemes of Central and State Government and for their failure in maintaining desired results in priority sector lending, CD ratio and zero balance accounts.
The decision was taken in quarterly review meeting of DLRC in presence of officers from Reserve Bank of India, National Bank of Agriculture and Rural Development (NABARD) and Lead District Manager representing banks. In compliance of directions issued by the DDC in previous DLRC meeting for time bound disposal and sponsoring of cases under self-employment, skill development and entrepreneurship scheme, the Departments of Agriculture, Handloom, Handicrafts, Social Welfare and Industries presented the dismal response of banks owing to which directions were issued for initiating action and financial penalty against the defaulting banks.
The DDC directed that every case under Government scheme shall be cleared / sponsored within one month’s period and in cases of rejection the banks shall give valid reasons in writing. He asked the Chief Planning Officer to review the progress on monthly basis. The banks were also directed for ensuring opening of accounts of all students within 15 days for scholarship funds transfer and to organise camps in schools for achieving this target.
He expressed serious concern over delay caused by J&K Bank branches which led to scholarship delay and deprivation and asked for seeking claims from the J&K Bank Headquarters in case of repeated default.
The LDM was directed to ensure a financial penalty of Rs 200 per day in cases of sponsorships delayed by the banks beyond timeline and depositing such penalty amount in the account of District Red Cross Society
The DDC instructed bankers to involve Rural Development Department while implementing PMSBY, PMJJSBY, APY, PMJDY schemes as it has key role in public dealing. He instructed all the bankers to improve the CD ratio at par with the national level in the next quarter.
During the meeting, the Lead District Manager, Udhampur V K Verma revealed that deposits of the district were Rs 2786.26 crore and advances were Rs.801.66 crore as on Sept 2015. He disclosed that CD ratio of the district was 28.77 percent.
Later, NABARD Book on “Potential Linked Credit Plan 2016-17” of Udhampur District was also released by the DDC Udhampur.
Follow our WhatsApp channel
