Saturday, 20 April 2024

 

 

LATEST NEWS Chief Secretary T.V.S.N Prasad directs prompt crop damage survey and speedy lifting of grain stocks from Mandis Gurjit Singh Aujla started the election campaign by paying obeisance at Gurudwara Baba Chhajjoji Government is wasting wheat for personal gain Atal Dulloo throws open 2-day multi-speciality medical camp at SDH Jagti School of Liberal & Creative Arts at LPU lifted Championship trophy of 12th Cultural Fest ‘One India-2024’ Health Minister Punjab inaugurates Aryans Pharmacy Conference Department of Applied Sciences, CGC Landran organises workshop Lokayukta presents Annual Report to Governor Shiv Pratap Shukla 118 year old Dharamveer of Palwal district is the oldest voter in the state Take proper permission for vehicles in road shows- DEO Sakshi Sawhney, CP and MC Commissioner Ludhiana DC Sakshi Sawhney, CP and MC Commissioner felicitate toppers of class 10 CM Bhagwant Mann in Fatehgarh Sahib: Regardless how long and dark the night is, the sun of truth always shines, in 2022 the people chose the light of truth Despite Heavy Rainfall and Storm, Bhagwant Mann Remains Committed to Address Gathering in Sri Fatehgarh Sahib Gurjit Singh Aujla arrived to congratulate the Muslim brotherhood on Jumma Namaz Fortis Healthcare Launches 80-bedded Multi-Speciality Tertiary Care Hospital at Nagarbhavi, Bangalore Understanding Fatty Liver Disease: Causes, Complications, and Lifestyle Changes Harnessing the Power of Karting for Productivity and Mental Health Boost to BJP as representatives of 40 sports organisations extend support to Sanjay Tandon BJP reminds Congress candidate Manish Tiwari of the historical facts of June 12, 1975 Finally Wait is Over as Seductive Romantic Song 'Mann Kyun Behka Ja Raha Hai' Full Song is Released CGC Jhanjeri’s Fashion Show MERAKI 2024 goes in Style

 

Chering Dorjay for equaling national average in Credit-Deposit ratio

Minister chairs 123rd BoD meeting of SCARDB , Rs 200 cr advanced to farming community

Listen to this article

Rouf Pampori

Rouf Pampori

5 Dariya News

Srinagar , 17 May 2016

Highlighting the significance of banking sector in inclusive growth, the Minister for Cooperative, Chering Dorjay, Tuesday underscored the need for building a strong financial sector in J&K which can respond to the growing needs of the emerging economy.Chairing the 123rd Board of Directors meeting of Jammu and Kashmir State Cooperative Agricultural and Rural Development Bank (JKSCARDB) here on Tuesday, the Minister said the banks have a direct bearing on improving income levels of the people, reducing unemployment and alleviating poverty. He said although the credit support from banks to various sectors is increasing, but there is a vast scope for improvement.“We are still lagging behind in the fixed benchmarks of credit-deposit (CD) ratio of agriculture sector. The banks must strike a balance between CD ratio and endeavor to equalize the national average,” he said.      

The Minister of State for Cooperative, Mr. Zahoor Ahmad Mir,  Secretary Cooperative Mr. Baseer Ahmad Khan, Registrar Cooperative Societies, Mr. Bashir Ahmad Bhat, Managing Director, J&K State Cooperative, Agriculture, Rural Development Bank (SCARDB), Mr. Mohammad Aslam Bhat and representatives of Finance, Planning and Development Departments, besides officers of SCARDB, participated in the meeting.Several issues were discussed in the meeting to make the banking sector more vibrant and commercial. Assuring all possible support from the Government in building mutual trust between bankers and people for overall development of the State, Mr. Dorjay urged the banks to liberally provide credit in agriculture sector, the backbone of the state’s economy, which will contribute for development and prosperity of J&K.“We are much behind the expectations with respect to covering farmer families under Kissan Credit Card Scheme”, Mr. Dorjay said.

“Expansion of dairy farming, poultry farming and sheep rearing are other sectors which have a prominent role in the state’s economy and need sustained development”, Mr. Dorjay said.He said the development of these sectors on modern lines will help in retaining the money spent for importing milk and meat from other parts of the country. He also called on focused attention for promoting handicrafts and handloom sectors which have tremendous employment generation opportunities.The Board decided to seek financial support of the Government for the revival of JKSCARDB. It was observed that the bank has the distinction of extending long term agriculture loan/credit to the farming community and as such NABARD will be approached for initiating measures for its revival.The Minister stressed on reduction of NPA's of the bank and improvement of credit deposit ratio to the desirable level which, he said, will increase profitability and overall financial complexion of the bank.

The Minister directed the concerned authorities that priority should be given to most backward and hilly districts of J&K like Leh, Kargil, Bandipora, Kishtwar, Reasi and Doda so that more business is attracted.The Minister of State for Cooperative, Mr. Zhoor Ahmad Mir asked the management of the bank to adopt a strong and stubborn recovery mechanism so that the money lying with defaulted borrowers is recovered in a time bound manner.“Tighten the noose of the defaulters and ensure that the money lying with them is recovered and invested in other areas”, the Minister told the bank authorities, urging them to employ personal and social rapport for recovering loans from defaulters. He asked them to expand the clientele of the bank so that the business of the bank is further increased.

During a power point presentation, the MD SCARDB briefed the Board members about the bank which is presently operating in the state through a network of 51 branches functioning in all the 22 districts of the state with a membership base of more than 95,848 till last fiscal.He said the total business of the bank has reached Rs.14517.10 lakh by ending March 2016, showing an increase of 419%. He said the bank has provided a loan of more than Rs 200 crore since its inception to the farming community of state under Farm and Non-Farm Sectors.“Out of the total advances the Bank has recovered Rs 120 crore from the loaners till date,” the MD said.

 

Tags: Chering Dorjay

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2024 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD