To review the performance of various banks and other financial institutions a meeting was today held at Dak Bungalow Khanabal under the chairmanship of District Development Commissioner, Anantnag.The meeting was attended Lead Bank Manager, project Officer, DRDA, District Social Welfare Officer, ARTO, District Sheep Husbandry Officer, Chief Horticulture Officer, AD Handicrafts, other district officers and the representatives of RBI and other banking institutions.The Lead Bank Manager gave detailed information about the performance of the banks and the problems faced by the people and banks alike in the ongoing situation. The meeting was informed that due to the prevailing situation, the business sector has suffered the most, resulting in meagre or no loan recovery by the crediting banks. The LBM informed that sectors like horticulture, transport agriculture have also suffered hence resulting into distressed loans.
District Development Commissioner informed the bankers that to overcome the distressed loan scenario in the District, the recovery of the credit will be rescheduled upto 31st March 2017.The District Development Commissioner instructed the bankers to complete the codal formalities regarding the rescheduling of the recovery so that some kind of' relief is provided to the business community.Besides, it was impressed upon all the officers to complete the sponsoring targets as given to each department for which banks were asked to facilitate hassle free credit. In this direction, the DDC said that many new potential sectors like horticulture, agriculture, sheep rearing fisheries etc need to be promoted so that self-employment avenues are created for the unemployed youth.