Credit availability will be instrumental for rapid development of social infrastructure: Dr Basharat
ANANTNAG, MARCH 07: The District Level Review Committee met here in presence of all concerned stakeholders including banks, officials from employment, industries and other departments under the chairmanship of Deputy Commissioner (DC) Anantnag, Dr Basharat Qayoom to review credit facilitation by banks during the 3rd quarter of the present fiscal.
The chair was apprised by the Lead District Manager that both credit and advances have shown positive growth over the previous quarter. The District has extended more than 81% of the target credit to MSMEs in the district in a bid to boost employment among the youth.
There has been extensive effort towards the Financial Literacy of the residents in the district and 37 Financial Literacy Camps have been organised in the district, he added.
Sharing the target achievement under various Govt Schemes, the chair was informed that 435 cases under PMEGP (DIC), 157 under PMEGP (KVIB), 264 under PMEGP (KVIC), 116 under Mumkin, 23 under Tejaswini, 96 under stand up India and 228 Artisans and Weavers have received credit facility in excess of Rs 66 crores aimed at creating sustainable livelihood opportunities in the district.
Under RSETI, 128 candidates have received training through 6 programs so far out of which 111 candidates have successfully set up units. Sanctioning of cases and disbursal of funds under KCC and Progress under Social Security Schemes was also discussed on the occasion.
Dr Basharat instructed banks to ensure credit flow to the priority sector. He said that priority sector lending is a focus area and credit flow remains one of the primary drivers for modernisation of the sector.
He said banks should also be sensitive to rising social infrastructural needs and any capital requirements in this area must be handled on priority.
The DC said that over the previous months, there has been much progress in reducing the processing time for PMEGP and other self-employment scheme cases but there is still scope for sensitization among bank employees so that aspiring youth are not unnecessarily left wanting for credit.
The meeting was attended by ADDC, JD Planning, LDM, AD Employment and representatives from various banks.