Over 10 lakh beneficiaries in J&K get credit worth Rs 43,000 crore till September this fiscal

Over 10.07 lakh beneficiaries in Jammu and Kashmir received credit assistance during the first half of the financial year 2025-26, with banks disbursing loans worth over Rs 43,000 crore, an official said on Sunday.

The information was given at the 17th meeting of the UT-Level Bankers’ Committee (UTLBC) chaired by chief secretary Atal Dulloo here on Saturday 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, the official said.

The official said the meeting was informed that the 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.

Dulloo said despite the ups and downs caused by the Pahalgam terror attack followed by cross-border tensions and floods that engulfed J&K between April and September, lending to the priority sector has remained satisfactory.

Agriculture, he said, 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.

“There is also a need to improve the CD Ratio of J&K and push credit to Self-Help Groups,” he said.

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 are important for the overall growth of the Union Territory.

He directed banks, especially private sector banks, to improve outreach in unbanked and under-banked pockets of Jammu and Kashmir so that banking facilities are made accessible to the people.

He also 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.