Dr. Pawan Kotwal, Advisor to the Hon’ble Lieutenant Governor of UT Ladakh, chaired the 10th meeting of the Union Territory Level Bankers Committee (UTLBC) of Ladakh for the quarter ending June 30, 2024.

The Assistant General Manager of State Bank of India and UTLBC Convenor for UT Ladakh, Tsering Morup, presented a detailed report on the achievements of banks under various schemes up to June 2024. Banks disbursed Rs. 529.08 crore in Priority Sector advances, achieving 57% of the Annual Credit Target (ACT) of Rs. 925.06 crore. Overall, banks in UT Ladakh achieved 55% of the target by disbursing Rs. 1032.79 crore in both Priority and Non-Priority sector advances, against the Annual Credit Plan (ACP) of Rs. 1887.66 crore by the end of Q1 2024.

The Chairman was informed that total deposits as of June 30, 2024, stood at Rs. 9170.61 crore, reflecting a 9% year-on-year growth compared to Rs. 8411.47 crore in June 2023. Total credit grew by 12.89%, with Rs. 4403.37 crore in June 2024 compared to Rs. 3900.55 crore in June 2023. The overall Credit-Deposit (CD) Ratio for UT Ladakh stood at 48.02% for the quarter ending June 2024.

Advisor Dr. Pawan Kotwal directed the concerned departments to initiate a Solar Rooftop Scheme drive in Ladakh, enabling residents to benefit from the initiative and support Ladakh's journey towards becoming a Green Union Territory. He urged banks to actively sanction loans under this scheme.

Dr. Kotwal further emphasized the need to expand the coverage of the PM Surya Ghar Muft Bijli Yojana and called for regular reviews of the scheme. He also highlighted the importance of promoting Government of India schemes such as the PM Vishwakarma Scheme, which aims to support traditional craftspeople, ensuring full realization of its objectives.
Vijendra Pal Singh, Deputy General Manager of the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), presented on the implementation of Central Know Your Customer (CKYC) in banks. Dr. Kotwal appreciated CERSAI’s efforts and directed all banks to implement CKYC efficiently, stressing the need to avoid duplicity in account holders to maintain accurate data.

The meeting was attended by Principal Secretary Sanjeev Khirwar, Commissioner Secretary Padma Angmo, Commissioner Secretary Vasanthakumar Namasivayam, Administrative Secretary Vikram Singh Malik, Deputy Commissioner Leh Santosh Sukhadeve, and senior officials from State Bank of India, Reserve Bank of India, NABARD, and other member banks and financial institutions.