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Srinagar credit plan approved at Rs 624 cr

Written by: Staff

Srinagar, Mar 23 (UNI) The credit action plan of Srinagar district for the next financial year would be of the order of Rs 624.40 crore, an official spokesman said.

He said of this, Rs 221.52 crore have been proposed for priority sector and Rs 402.88 crore for non-priority sector.

The spokesman said this decision was taken at the District Consultation Committee meeting held here under the chairmanship of District Development Commissioner, Srinagar Dr Asgar Samoon.

District Lead Manager, Srinagar Z A Khan while deliberating upon the broad features of the credit action plan said under the priority sector 12503 income generating units while under non-priority sector, 12429 units are proposed to be established here.

Under government sponsored schemes for employment generation, loans to the tune of Rs 15.13 crore would be advanced to 5016 beneficiaries in priority sector.

An amount of Rs 169 crore has been earmarked for trade and services sector, Rs 46.42 crore for non-farm and SSI and Rs 6.03 crore for agriculture and allied sectors.

In the priority sector, advances of Rs 15.14 crore for 5016 unit holders have been allocated in different government sponsored schemes for employment generation and poverty alleviation.

The lead District Manager said next years credit plan has been prepared from gross roots level after taking into account the concerns of both banks and government departments.

Dr Asgar Samoon while deliberating on the credit Plan said the plan should be realistic and achievable and cover all the thrust areas where employment potential is available.

Stressing for achieving the targets in full, he asked all sponsoring agencies and bankers to deposit this years left over loan cheques in his office on March 27, this year which would be disbursed to the identified beneficiaries on the same date.

He called for organising block level seminars to educate the unemployed youth, especially those living in far flung areas about various self employment schemes launched by the government.

While taking review of the current years credit action plan, the Deputy Commissioner underscored the need for expediting the disbursement of subsidy and margin money to the beneficiaries before the current fiscal comes to an end.

He asked bankers to launch a vigorous recovery drive and also simplify the loan sanctioning procedures so that the educated unemployed youth do not face problem in getting financial assistance from the banks.


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