Against national average of 60% CDR in J&K at 49.11%: Drabu

Minister for Finance, Labour and Employment, Dr Haseeb. A. Drabu today informed the House that the aggregate Credit Deposit Ratio during the last fiscal in respect of all banks operating in J&K State stood at 49.11% against the national average of 60%.
Replying to a question by Davinder Singh Rana on behalf of M Y Tarigami, the Minister said that due to small agriculture land holdings in the State together with conversion of agricultural land for non-productive purposes.
The Finance Minister further said that J&K lacks industrial growth and there are no big or medium industrial units operating in the state with the result the bank lending in the heavy and medium enterprise sector is negligible.
He said Financial Literacy Centers (FLCs) and Rural Self Employment Training Institutes (RSETI) have been set up in all the 22 districts of the state and out of it 10 RSETIs have been allocated to SBI and 12 allocated to J&K Bank.
The Minister said the Financial Inclusion Plan (FIP) Phase-I envisaged coverage of 795 identified un-banked villages having population than greater 2000 with ICT- based banking outlets.
The Finance Minister further said that FIP-Phase-II envisaged coverage of 5582 identified unbanked villages having population more than 2000 in the State. He said that these villages were also allocated to the same 5 participating banks.
The Finance Minister informed that the government accorded sanction to the implementation of the projects in Public-Private-Partnership (PPP) mode under roads,
tourism, housing, urban, sports, technical education, health, horticulture and industries and mining sectors.

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