Calls for Accelerated Credit Flow for Inclusive Growth of the District
Budgam : The 93rd District Level Review Committee cum District Consultative Committee (DLRC/DCC) meeting of District Budgam was held Monday at the Conference Hall of the DC Office Budgam under the chairmanship of Deputy Commissioner Budgam, Dr. Bilal Mohi-ud-Din Bhat.
The meeting undertook a comprehensive review of the performance of banks in the district with regard to deposits, advances and overall credit delivery as on 30 September 2025, including a year-on-year comparison.
The Lead District Manager, Mohammad Muzaffar, presented a detailed overview of the district’s banking performance.
It was informed that during the second quarter of FY 2025–26, substantial progress has been achieved under Priority Sector Lending (PSL), reflecting focused efforts towards inclusive credit flow. Against an annual priority sector lending target of ₹2263.6 crore, banks have so far achieved ₹1168 crore, registering an overall achievement of 51.65 percent.
The meeting was further informed that total deposits in Budgam district increased from ₹5050.13 crore as on 30 September 2024 to ₹5138.11 crore as on 30 September 2025, registering a growth of ₹87.98 crore (1.74%).
Similarly, total advances rose from ₹5346.98 crore to ₹5467.82 crore, reflecting an increase of ₹120.84 crore (2.25%). The overall Credit Deposit (CD) ratio of the district stood at around 106 percent, indicating a robust and healthy flow of credit. At present, 11 banks are operating in Budgam through a network of 101 branches.
Senior officials of the Reserve Bank of India (RBI) participated in the meeting through video conferencing and provided valuable guidance on strengthening banking performance, improving credit outreach and enhancing financial inclusion.
Representatives of major banks including J&K Bank, State Bank of India, HDFC Bank, ICICI Bank, Punjab National Bank, Union Bank of India, J&K Grameen Bank, J&K State Cooperative Bank, Canara Bank, Axis Bank and UCO Bank actively participated in the deliberations.
Officers from various line departments such as Agriculture, Horticulture, KVIC, KVIB, District Industries Centre (DIC), Employment, NRLM, Handicrafts and Handloom also attended the meeting and reviewed progress under various government-sponsored schemes including Kisan Credit Card (KCC), Animal Husbandry and Sheep Husbandry sectors.
While chairing the meeting, the DC emphasized the need for greater coordination between banks and line departments to ensure timely sanction and disbursement of loans under priority sector and government-sponsored schemes. He stressed the need to reduce pendency of cases, improve credit absorption capacity, and reach out to uncovered and marginalized sections to further strengthen financial inclusion in the district.
The DC impressed upon banks to adopt sector-wise credit planning, support livelihood generation initiatives, and extend adequate credit to agriculture, MSMEs, self-help groups and other priority sectors to accelerate socio-economic development in Budgam.
The DC directed banks and all concerned departments to work in mission mode to enhance credit delivery, improve banking services and ensure inclusive and sustainable economic growth in the district.
Besides, CPO Budgam, Lead Bank Manager, representatives from the RBI, DAO, Animal Husbandry Officer, District Employment Officer, NRLM District Coordinator, Officers from Handicrafts and Handloom, other concerned officers and mangers from various banks of the district were present in the meeting.