Omar asks banks to enhance credit to spur growth of J&K

| Updated on: Oct 09, 2012

Jammu and Kashmir Chief Minister Omar Abdullah has underlined the need for enhancing credit flow by financial institutions to spur economic growth and generate employment avenues for youth.

This would also boost agriculture production and encourage entrepreneurs to launch independent livelihood earning ventures, Omar Abdullah said after inaugurating Jammu and Kashmir Bank branch at Waliwar in his home constituency Ganderbal in Central Kashmir yesterday.

“Agriculture and allied sectors are thrust areas and easy advance to farmers is imperative for timely conduct of agricultural practices required for good yield,” he said and asked the banks to fulfil their corporate sector responsibility.

The Chief Minister appreciated the efforts of the Bank in reaching out to people and helping their economic growth.

“The active support of Jammu and Kashmir Bank to flourish MSME sector and give considerable fillip to SKEWPY initiative is of significant importance. With the growth of business and deposits there should be remarkable increase in credit flow from banks to agriculturists, traders and young entrepreneurs,” he said stressing on the need of striking balance in the credit-deposit ratio.

The Chief Minister also handed over Kissan Credit Cards to over a dozen of farmers out of about 2500 beneficiaries who received the cards at the occasion.

Omar Abdullah had directed for fast tracking of issuance of Kissan credit cards to farmers in the last State Level Bankers’ Committee meet.

Published on March 12, 2018

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