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

Press Trust of India  |  Jammu 

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

He constituted 109th 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 and 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,

The annual target for priority sector was 23,741,91 crore for8,39,476 beneficiaries.

For non-priority sector, banks have disbursed credit worth Rs 10,310.63 crore in favour of 2,42,736 beneficiaries achieving 129.60 per cent in physical terms.

The target for this sector was of Rs 7,955.70 crore for 2,29,210 beneficiaries.

The committee would look into the difficulties in sanctioning loans to the beneficiaries across the state.

The directed all the district banks to analyse the data and submit a comprehensive report regarding the low performance in agriculture housing and MSME sectors of the state.

Subrahmanyam asked all the banks to be aware of (PM-KISAN) scheme for ensuring smooth implementation of the government programmes.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 17:50 IST
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