Excelsior Correspondent
SRINAGAR, Nov 22: Dr. Bhagwat Kishanrao Karad, Minister of State for Finance chaired the special meeting of Union Territory Level Bankers’ Committee in Srinagar to review achievements of banks and financial institutions operating in Jammu and Kashmir under various initiatives of the Centre and UT Government.
The special meeting was attended by Chief Secretary, Dr. A. K. Mehta, Financial Commissioner Agriculture Production Department, Atal Dulloo, MD & CEO J&K Bank (Convenor J&K UTLBC) Baldev Prakash, Regional Director Reserve Bank of India, Kamal P Patnaik, Chief General Manager NABARD,Dr. A. K. Sood and other senior functionaries.
Asserting that financial literacy is as important as education in general for financial inclusion, Dr Karad directed banks to increase awareness among the people about different loan schemes especially meant for lower strata of society so that the benefits are percolated to them. Stressing upon the need to increase the number of borrowers in PM SVANIDHI scheme, he said, the beneficiaries of the scheme be guided and gradually upgraded to avail higher ticket size loans under the PM Mudra Yojana.
During the review, Dr Bhagwat Karad placed his recognition on record for better average in branch and ATM coverage in J&K as compared to the national average. He also felt happy to see that the average account balance in J&K was higher than the National average.
Chief Secretary briefed the MoS about the ideation and objectives of various initiatives of the Government including Back to Village Programme. He also apprised the chair about the UT Government’s upcoming “My Town My Pride programme” wherein the Government, banks and line departments shall work towards saturation of self-employment in the J&K.
MD & CEO J&K Bank (Convenor J&K UTLBC) Baldev Prakash in his welcome address assured J&K Government that banks operating in J&K will extend all possible support for implementing the programmes and schemes aimed at entrepreneurial development, employment generation and poverty alleviation in Union Territory of Jammu & Kashmir
Earlier General Manager J&K Bank, Syed Rais Maqbool made presentation on financial achievements of various banks in different sectors during the first two quarters of Financial year 2022-23.
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