News & Announcement
DLCC-DLRC Meeting Reviews Banking Performance and Government Schemes in Gangtok
Gangtok, March 20 (IPR):
The Additional District Magistrate of Gangtok, Mr Sisum Wangchuk Bhutia, presided over a meeting of the District Level Consultative Committee (DLCC) cum District Level Review Committee (DLRC) at the conference hall of the District Administrative Centre (DAC) today.
The primary objective of the meeting was to evaluate the performance of banks for the third quarter ending December 2024.
The discussions focused on action points concerning banks with Credit-Deposit (CD) ratios below 40%, those exhibiting performance levels below 25%, and banks underperforming in the agriculture and allied activities sector as of December 31, 2024.
The Reserve Bank of India plays a pivotal role in the oversight and regulation of the banking sector, aimed at ensuring stability and growth.
Representatives were requested to analyse and address the variations in financial metrics during the meeting.
The meeting further examined government-sponsored schemes, notably the Prime Minister’s Employment Generation Programme (PMEGP) for 2024-25. The chair highlighted the significance of this scheme, underscoring its status as a flagship initiative of the Government of India.
Additionally, discussions encompassed the status of Kisan Credit Cards (KCC) issued by bank branches within the Gangtok district.
Various social security schemes, such as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Pradhan Mantri Jan Dhan Yojana (PMJDY), were also thoroughly reviewed.
In terms of Financial Literacy and Credit Counselling (FLCC) initiatives, the chair encouraged representatives to prioritise women-orientated literacy camps to enhance financial awareness among women. Furthermore, bank branches were advised to hold Block Level Bankers’ Committee (BLBC) meetings on a regular basis.
Following deliberations, Mr Sisum Wangchuk commended the banks for their commendable efforts. While acknowledging certain challenges, he noted a significant overall improvement in banking efficiency. He stated that banks serve as the engines of progress, and their effective performance is instrumental to regional economic growth. He acknowledged the advancements made in the Gangtok district, which serve as a positive indicator of development.
Mr Wangchuk emphasised that a critical area requiring substantial attention is the Credit-Deposit (CD) ratio, which it is imperative for banks to strive to enhance. He encouraged all banks to consider the recommendations put forth by the Lead Bank and to undertake necessary actions to improve credit flow.
Moreover, he stressed that the purpose of the meeting was not merely to highlight shortcomings but to promote introspection and reflection on past performances. The primary objective was to identify areas in need of improvement, ensuring substantial progress by the next meeting.
He also reiterated the significance of the Prime Minister’s Employment Generation Programme (PMEGP) and other government-sponsored schemes, advising any bank encountering difficulties in implementation to directly contact the relevant authorities for support. Timely processing and approval of applications will further enhance the efficacy of these schemes, he stated.
In his concluding remarks, he expressed his expectation that bankers would proactively educate and engage with citizens to maximise the advantages of government-sponsored schemes.
In an interactive session, the chair proposed that banks should extend their support to initiatives aimed at the comprehensive development of the state.
The meeting was attended by key officials, including Additional District Collector (HQ) Mr Tshering Norgyal Theengh; Manager of the Reserve Bank of India (Gangtok), Mr Paraj Nagdive; Regional Manager of SBI, Mr Nitesh Kumar; Assistant General Manager of NABAD, Mr Mewang K Lowang; Deputy Director of Khadi & Village Industry (KVIC), Ms Salle Pao; SLBC State Coordinator, Mr Gadadhar Ray; Lead District Manager, Mr Kollal Bhattacharya; officers from various government departments; Official SLBC (Gangtok); and regional and branch heads of commercial, private, and cooperative banks.
The meeting concluded with a collective commitment from the banks to enhance their performance in future quarters.
The Additional District Magistrate of Gangtok, Mr Sisum Wangchuk Bhutia, presided over a meeting of the District Level Consultative Committee (DLCC) cum District Level Review Committee (DLRC) at the conference hall of the District Administrative Centre (DAC) today.
The primary objective of the meeting was to evaluate the performance of banks for the third quarter ending December 2024.
The discussions focused on action points concerning banks with Credit-Deposit (CD) ratios below 40%, those exhibiting performance levels below 25%, and banks underperforming in the agriculture and allied activities sector as of December 31, 2024.
The Reserve Bank of India plays a pivotal role in the oversight and regulation of the banking sector, aimed at ensuring stability and growth.
Representatives were requested to analyse and address the variations in financial metrics during the meeting.
The meeting further examined government-sponsored schemes, notably the Prime Minister’s Employment Generation Programme (PMEGP) for 2024-25. The chair highlighted the significance of this scheme, underscoring its status as a flagship initiative of the Government of India.
Additionally, discussions encompassed the status of Kisan Credit Cards (KCC) issued by bank branches within the Gangtok district.
Various social security schemes, such as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Pradhan Mantri Jan Dhan Yojana (PMJDY), were also thoroughly reviewed.
In terms of Financial Literacy and Credit Counselling (FLCC) initiatives, the chair encouraged representatives to prioritise women-orientated literacy camps to enhance financial awareness among women. Furthermore, bank branches were advised to hold Block Level Bankers’ Committee (BLBC) meetings on a regular basis.
Following deliberations, Mr Sisum Wangchuk commended the banks for their commendable efforts. While acknowledging certain challenges, he noted a significant overall improvement in banking efficiency. He stated that banks serve as the engines of progress, and their effective performance is instrumental to regional economic growth. He acknowledged the advancements made in the Gangtok district, which serve as a positive indicator of development.
Mr Wangchuk emphasised that a critical area requiring substantial attention is the Credit-Deposit (CD) ratio, which it is imperative for banks to strive to enhance. He encouraged all banks to consider the recommendations put forth by the Lead Bank and to undertake necessary actions to improve credit flow.
Moreover, he stressed that the purpose of the meeting was not merely to highlight shortcomings but to promote introspection and reflection on past performances. The primary objective was to identify areas in need of improvement, ensuring substantial progress by the next meeting.
He also reiterated the significance of the Prime Minister’s Employment Generation Programme (PMEGP) and other government-sponsored schemes, advising any bank encountering difficulties in implementation to directly contact the relevant authorities for support. Timely processing and approval of applications will further enhance the efficacy of these schemes, he stated.
In his concluding remarks, he expressed his expectation that bankers would proactively educate and engage with citizens to maximise the advantages of government-sponsored schemes.
In an interactive session, the chair proposed that banks should extend their support to initiatives aimed at the comprehensive development of the state.
The meeting was attended by key officials, including Additional District Collector (HQ) Mr Tshering Norgyal Theengh; Manager of the Reserve Bank of India (Gangtok), Mr Paraj Nagdive; Regional Manager of SBI, Mr Nitesh Kumar; Assistant General Manager of NABAD, Mr Mewang K Lowang; Deputy Director of Khadi & Village Industry (KVIC), Ms Salle Pao; SLBC State Coordinator, Mr Gadadhar Ray; Lead District Manager, Mr Kollal Bhattacharya; officers from various government departments; Official SLBC (Gangtok); and regional and branch heads of commercial, private, and cooperative banks.
The meeting concluded with a collective commitment from the banks to enhance their performance in future quarters.