Provide hassle-free loans to youth: Chief Secretary to banks

Jammu, Nov 29: J&K Chief Secretary Atal Dulloo Saturday chaired the 17th meeting of the UT-Level Bankers’ Committee (UTLBC) in Jammu to review the performance of Banks and Financial Institutions in providing credit and other banking services during the first quarter and first half of the current financial year 2025–26.
He said that despite the ups and downs caused by the Pahalgam terror attack followed by cross-border tensions and floods that engulfed the J&K UT, lending to the priority sector has remained satisfactory. Agriculture, he stated, is a major opportunity, and the banking sector needs to provide appropriate credit to the sector for the economic upliftment of J&K.
He urged banks to come forward and provide hassle-free loans under schemes like the Holistic Agriculture Development Programme (HADP), PM Vishwakarma, Mission YUVA, and Homestays, which have been designed to create self-employment opportunities for the youth. He added that there is also a need to improve the CD Ratio of J&K and push credit to Self-Help Groups.
The meeting was attended by MD & CEO J&K Bank (Convenor J&K UTLBC) Amitava Chatterjee; Additional Chief Secretary, Agriculture Production Department, Shailendra Kumar; Principal Secretary, Finance, Santosh D. Vaidya; Commissioner Secretary, Industries & Commerce Vikramjit Singh; Executive Director J&K Bank, Sudhir Gupta, besides Secretaries to the Government, Heads of Departments, and senior officials from the UT Government, RBI, NABARD, Banking Institutions, Insurance Companies, BSNL, and Lead District Managers.
The Chief Secretary stressed upon the banks to improve lending under the Priority Sector with special emphasis on segments like Agriculture, Housing, Education, and Social Infrastructure, which he said are important for the overall growth of the UT.
He directed banks, especially private sector banks, to improve outreach in unbanked and under-banked pockets of J&K so that banking facilities are made accessible to the people. He further directed banks to improve enrolment under Social Security Schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, and Atal Pension Yojana, besides ensuring timely settlement of claims under these schemes.
Earlier, in his welcome address, Convenor UTLBC and MD & CEO J&K Bank, Amitava Chatterjee, expressed optimism over the banking sector’s role in meeting the developmental aspirations of the Union Territory. “The banking sector plays a pivotal role in driving economic transformation, and we remain steadfast in our mission to strengthen financial empowerment, promote entrepreneurship, and enhance access to credit across all segments of society,” he said, assuring full cooperation from J&K Bank and other member banks in implementing employment- and enterprise-focused initiatives.
On the occasion, General Manager (J&K UTLBC) Ashutosh Sareen presented the progress report of banks for the review period, highlighting key performance indicators, including total credit disbursed, number of beneficiaries covered, and the percentage achievement of the Annual Credit Plan (ACP) in financial and physical terms. Performance under key schemes like Mission YUVA, PMEGP, PMFME, HADP, KCC, SHG–Bank Linkage, Financial Inclusion, and Social Security Schemes was also reviewed.
The house was informed that banks in J&K have disbursed credit of Rs 43,017 Crore to 10.07 lakh beneficiaries during the first half of the current financial year 2025–26.
The event concluded with a formal vote of thanks by the General Manager, J&K UTLBC, who appreciated the contribution of all stakeholders and emphasized prompt implementation of decisions to facilitate inclusive and sustainable economic development in Jammu & Kashmir.