Advisor to Hon’ble LG, UT Ladakh Dr Pawan Kotwal Presides 8th UT-Level Bankers’ Committee Meeting 

Advisor to Hon’ble LG, UT Ladakh Dr Pawan Kotwal Presides 8th UT-Level Bankers’ Committee Meeting

Leh, Dec. 20: The Advisor to Hon’ble Lieutenant Governor, UT Ladakh, Dr Pawan Kotwal presided over the 8th meeting of the Union Territory Level Bankers Committee (UTLBC) of Ladakh virtually for the quarter ended June 30, 2023, and September 30, 2023.

The Assistant General Manager, State Bank of India, Convenor UTLBC of UT Ladakh, Tsering Morup gave a detailed presentation about the achievements of Banks under various schemes up to the quarter ended September 2023. The Banks achieved 81% by disbursing a total credit of Rs.663.29 Crore under Priority Sector advances against the Annual Credit Target of Rs.821.03 Crore. The overall achievement under Priority and Non-Priority sector advances by all banks in UT Ladakh is 83% by the end of the September quarter.

The Chairman was informed that the total deposits as of 30th September 2023 stood at Rs. 8567.17 Crore as compared to Rs.7664.92 Crore as of September 30, 2022, with the deposit growth of 11.77% on a year-on-year basis. The total credit as of September 30, 2023, stood at Rs. 4136.60 Crore as compared to Rs.3441.84 Crore as of September 30, 2022, with a credit growth of 20.18% on a year-on-year basis in UT Ladakh. The overall CD Ratio of UT Ladakh is 48.28% for the quarter ended September 30, 2023.

Advisor Ladakh directed all private banks to improve their CD Ratio by the end of March 2024. Kamal P Patnaik, Regional Director RBI Jammu reviewed the CD Ratio bank-wise and directed all the private banks to improve their CD Ratio by the March quarter.

The Chairperson directed all the banks to design a product for the Solar Roof Scheme under the Renewal Energy sector to extend credit takes off under the said sector as the cost of the electric city is much higher than solar energy. He briefed the house about the Solar Rooftop Scheme in UT Ladakh. Bhallamudi Sridhar, CGM NABARD directed DDM NABARD Leh to contact Secretary Renewal Energy and arrange a presentation for SBI & J&K Bank on the Solar Roof Top Scheme.

The chairperson directed that banks should make efforts to cover all eligible beneficiaries under the Social Security Scheme and saturate 100% in both districts as this is the top priority of the government of India. He strictly directed all the banks to extend credit facilities under the PM Vishwakarma Scheme and SVAMITVA Scheme. He will monitor the progress under these schemes.

The meeting was attended by Commissioner Secretary, Padma Angmo; Administrative Secretary, Amit Sharma; Deputy Commissioners of Leh & Kargil; Directors of concerned departments; Regional Director (J&K & Ladakh) Reserve Bank of India, Jammu; General Manager, RBI; Chief General Manager, NABARD Jammu; General Manager, State Bank of India, LHO Chandigarh; Dy. General Manager, Administrative Office Jammu & Ladakh; and senior representatives of the member banks and financial institutions.

Lastly, the DGM SBI Admin office, Jammu concluded the meeting with a vote of thanks to all the dignitaries and other participants from line departments and banks.