Lead Bank Office, Budgam held its 54th District Level Review Committee (DLRC) meeting / District Consultative Committee Meeting today under the chairmanship of District Development Commissioner, Budgam, Mir Altaf Ahmad to review progress and performance of financial institutions/banks and sponsoring agencies for economic developmental activities for the quarter ended September 2015.During the meeting, Lead Bank District Manager, Mr. Shahzad Hussain Teli gave a brief about achievements of banks operating in the district under District Credit Plan 2015-16. He informed that total deposits of banks operating in the district has increased from Rs1391.71 Cr (as on 30th Sep 2014) to Rs1561.22 Cr as on (30th Sep. 2015 ) thus registering an increase of about 12.61% on YOY basis. Similarly total advances have also increased from Rs1094.93 Cr (as on 30th Sep 2014) to Rs1332.52 Cr (as on 30th Sep 2015) thus achieving an increase of 21.70 % on YOY basis. The area factor CD ratio has also increased from 78.68 % to 85.02 % when compared with the figure of 30 Sep 2015.
Under Government sponsored schemes against sponsorship of 999 cases banks have granted financial assistance of Rs. 9.17 crore to 418 beneficiaries.Under Prime Minister’s MUDRA Yojna (PMMY) 1678 units have been granted financial assistance to the tune of Rs. 29.52 crore under SHISHU, KISHORE and TARUN Category.Other fields like opening of PMJDY Accounts, Social Security Schemes, Financial Literacy, Credit Counselling Camps were also discussed in the meeting.The Chairman while reviewing achievements and performance of various banks and departments directed banks to improve their portfolio / performance in the housing, education and DRI sectoral schemes. During the meeting it was stated that RSETI Budgam has been awarded AA (Double A) grade for its performance.The Chairman also advised bank authorities to implement branch expansion plan of SLBC department for inclusive growth of all areas of the district.The meeting was attended by CPO Budgam, representatives from RBI, DDM NABARD, JKB Cluster Head, Bank Coordinators, Sectional Heads of Line Departments, BDOs and others officers of District Administration.