Mohammed Aijaz Asad, who is the Deputy Commissioner (DC) of Srinagar, led a meeting of the District Level Bankers Review Committee/District Consultative Committee (DLRC/DCC) on Tuesday. The purpose of the meeting was to review the performance of the Banks and other Financial Institutions under various Government initiatives and sponsored schemes for the quarter ending in March 2023.
At first, the DC looked at how well the banks were doing in each sector when it came to carrying out different government programmes. They also looked at how well the banks were doing when it came to giving to priority and non-priority sectors under the Annual Credit Plan.
When the DC looked at how the CD Ratio changed in each bank in the district, he was told that Srinagar’s total savings were Rs 34367.25 crore and its advances were Rs 24005.15 crore, which made the CD Ratio 71 percent for the quarter that ended in March 2023.
Also, the banks in Srinagar have given a total of Rs. 5205.10 Crore in credit to 99327 people in both the Priority Sector and the Non-Priority Sector during the last quarter of the financial year 2022-2023 (March 2023).
The DC was told that Rs. 2315.96 crore had been given out to 53044 people in Srinagar District under different schemes. This gave over 138420 jobless youth in the District the chance to work for themselves during the financial year 2022-23.
The DC was also told that the goal of creating 1.40 lakh Self-Employment opportunities for young people in Srinagar District was set to be met during the financial year 2022-2023. This is 3 times more than the 43000 opportunities that were created during the financial year 2021-2022.
The DC was also told that, as part of the Prime Minister’s Mudra Yojna (PMMY) Scheme, banks in Srinagar have given Rs 593.46 Crore to 18388 District recipients during the Financial Year 2023–2024. Under the Pradhan Mantri Employment Generation Programme (PMEGP), a total of 2086 cases were approved and the recipients were given a total of Rs 114.11 Crore.
The DC was told that so far, under the MUMKIN scheme, 109 cases have been approved for a total of Rs 6.91 Crore. This is part of Mission Youth’s plans to help young people find self-employment. In the same way, 95 cases have been approved under the TEJASWINI plan, and Rs. 3.49 crore has been paid out.
In the same way, the DC was told that under the Pradhan Mantri SVANIDHI projects, Rs 8.72 crore had been given to 6685 street vendors in the District.
During the meeting, the success of RSETI, FLCCs, and CFLs was reviewed, as well as enrollment in different Social Security Schemes, such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)/Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal pension Yojana (APY).
The DC also asked the banks to carry out the “100 Days, 100 Pays” programme, which was started by the Reserve Bank of India (RBI) to return lost savings by finding the real people who are entitled to them. Note that “unclaimed deposits” are the amounts in savings/current accounts that haven’t been used in 10 years or term deposits that haven’t been claimed within 10 years of their due date.
The DC also asked the banks and all line departments to support new companies in economic activities so that they would be more likely to set up businesses in the district that could make money. He asked the officers to work together with more energy and zeal and to set realistic goals so that the desired results could be reached on time.
The DC put a stress on improving other government schemes and major projects, and he or she drew attention to the goals set for the financial year 2023–2024.
Chief Planning Officer Mohammad Yaseen Lone, GM DIC Hamida Akhtar, Lead District Manager Abdul Majid, District officers, Cluster Heads of J&K Bank, Bank and financial institution officials from Srinagar, and LDO RBI were among the people who went to the meeting.
