The recovery position related to loan cases in first quarter of the financial year 2017-18 in Leh and Kargil District is highly satisfactory but there is an urgent need to focus on the cases related to overdue recoveries in both the districts of the desert region.
This was observed by Balbir Ram Rattan, Vice Chairperson, J&K Scheduled Castes, Scheduled Tribes & Backward Classes Development Corporatiion Limited, while chairing a review meeting of Leh and Kargil districts at Camp Office Srinagar on Monday.
Balbir Ram Rattan was briefed that during the first three months of the current financial year, the recovery with regard to the due cases has been almost hundred per cent but as for old cases, there has been slow pace of recoveries.
The Vice Chairperson was also told that a total of 11 new loan cases amounting to rupees 36.40 lakh and 21 small business unit cases amounting to rupees 16 lakh have been sanctioned in favour of the unemployed persons belonging to ST community in Leh and Kargil districts respectively.
While all the loan cases in Leh have been granted under Direct Financing from the Corporation, in Kargil similar cases have been sanctioned under Direct Financing and Bank Tie Up Schemes.
Balbir Ram Rattan said that it is imperative for the good health of the Corporation that what ever is loaned, is recovered on time. He said that the officers of the corporation have to put more efforts to reach the defaulters and convince them to clear their overdues.
The meeting was attended by Financial Advisor/ CAO Vijay Kumar Tak, Manager Projects Mohammed Iqbal Kataria, Divisional Manager Arshad Bhat and Accountant Babar Bashir Wani.