Shopian: The District Development Commissioner (DDC) Shopian, FazLulHaseebon Thursday presided over the District Level Review Committee (DLRC) meeting to review the performance of financial institutions of the district for quarter 2nd ended 30th September, 2023 of FY 2023-24, at Mini-Secretariat.
The meeting held in-depth discussions regarding the performance of banks during the fiscal year 2023-24.
DDC emphasized the importance of identifying beneficiaries and ensuring the smooth flow of credit to them through the convergence of assistance from government-sponsored schemes. He instructed banking institutions to increase credit flow in the priority sectors.
It was intimated that the deposits of the district increased from Rs. 1273.01 crores as on September 30, 2022 to Rs. 1373.61 crores as on September 30, 2023 thereby registering a growth of 7.9% on YOY basis and has shown decrease of -6% on quarterly basis from Rs. 1468.64 crores as on 30th June 2023.
The advances of the district increased from Rs. 1901.46 crores as on September 30, 2022 to Rs. 2117.40 crores as on September 30, 2023 thereby registering a growth of 11.35% on YOY basis and 6% on quarterly basis from Rs. 2004.21 crores as on 30th June 2023.
The priority sector advances of the district have decreased from Rs. 1429.30 crores as on September 30, 2022 to Rs. 1185.36 crores as on September 30 2023 thereby registering a decline of -17%on YOY basis and 2% decrease on quarterly basis from Rs. 1209.21 crores as on 30th June 2023.
Non-priority sector of the district increased from Rs. 472.24 crores as on September 30, 2022 to Rs. 932.11 crores as on September 30, thereby registering a growth of 97% on YOY basis and 17% on quarterly basis from Rs. 795.92 crores as on 30th June 2023.
The DDC advised bankers and line departments to enhance credit flow under the priority sector, with special attention given to education, women’s, development, and agriculture-related sectors.
He further encouraged banks to step up their efforts and improve their performance in the upcoming year, 20224-25.
The DDC highlighted the significance of Standup India, Mudra scheme, Jana Dhan and other beneficiary oriented schemes and also stressed for their early saturation and conducting of financial literacy camps in the aspirational blocks of Shopian district.
The meeting was attended by ADC Shopian, Dr. ZakirHussainFaaz, Lead District Manager, Farooq Ahmed, DDM, NABARD, Rouf Ahmed, Cluster Head, heads of line departments; RSETI Shopian, district heads of various banks, and other agency heads.
