Banks lend Rs 21,821-cr credit to beneficiaries in J&K

The banks in Jammu and Kashmir have extended a total credit of Rs 21,821.98 crore in the first three quarters of 2018-19, Chief Secretary B V R Subrahmanyam here said.

He constituted 109th State Level Bankers' committee on Thursday to look into the impediments hampering smooth flow of credit to agriculture, housing and Micro, Small and Medium Enterprises (MSME) sector through banks.

Banks operating in Jammu and Kashmir have extended a total credit of Rs 21,821.98 crore in favour of 6,20,993 beneficiaries both under priority as well as non-priority sector of the economy during the first three quarters of 2018-19, achieving 68.84 per cent of the target in financial terms and 58.11 in physical terms," Subrahmanyam said.

Under the priority sector, banks have disbursed credit worth Rs 11,511.35 crore in favour of 3,78,257 beneficiaries achieving 48.49 per cent of the target in financial terms and 45.06 per cent in physical terms,