The Chümoukedima District consultative committee (DCC) meeting was held on February 21 with DC, Chümoukedima, Abhinav Shivam, IAS chairing the meet. According to DIPR, the meeting was held at the DC’s Conference hall.
DCC is a common forum at district level for bankers as well as Government agencies/departments towards coordination of activities in implementing various schemes under Lead Bank Scheme.
The Deputy Commissioner raised serious concerns about the low C/D ratio, which is due to low credit/loan disbursement across the programs from all the banks except for SBI. The participation in loan/credit disbursement by Private Sector bank was a matter of grave concern where the credit disbursement was zero or in single digit percentage figures. The Deputy Commissioner asked the concerned agencies to restructure their Financial Literacy program since the agencies are dispensing the information regarding deposits and not about the credit and loan facilities available for citizens and those in real need.
He also highlighted the paradox that people in dire need of credit are co-existing with the unmet targets by banks for the loan disbursement despite the obligation fixed on banks to lend to the priority sector, Agri. And allied activities, private enterprise, education etc. He stated there is a dire need to make people of Chümoukedima aware about the credit facility which can help them to strengthen their economic condition. To address the same he has directed NABARD to conduct a financial literacy camp in the 1st week of March in collaboration with the Centre for Financial Literacy (CFL) and others to address lack of awareness among the public.
Download Nagaland Tribune app on Google Play
DC Shivam also highlighted the availability of various schemes like KCC for which loan could be availed for Agri. And allied sector; NLHM which gives loan on subsidy; Education loan which provides collateral free loan upto 7.5 lakh; MUDRA provides collateral free loan of upto 10 lakh to set up enterprise; PMEGP provides loan on subsidy for establishment of small businesses; Housing loan at 8% for priority sector; Stand up India with no collateral of up to 10 lakh – 1 Crore; etc. He directed the banks to meet the mandated credit disbursement and requested the line departments to work in close coordination with banks for better public awareness. He urged the public to avail loan for their financial services at an affordable manner and access to livelihood.
The meeting was attended by representatives of various Public Sector Banks, LDM, representatives of NABARD and RBI, apart from three heads of line department and District administration officials. The performance of last two quarters was reviewed by the Deputy Commissioner and Chairman of DCC Abhinav Shivam, IAS, who raised concern for low credit disbursement especially for Agriculture and Other Priority Sector lending. Credit disbursement figures of all banks except the State Bank of India were found to be very low. The Private bank barely touched Single digit percentage mark, mentioned Shivam.
A brainstorming session was conducted amid various experts and dignitaries attending the session.
