Approves one time settlement scheme in order to deal with bad loans.
Advisor to Lieutenant Governor, Farooq Khan today chaired the 40th meeting of the Board of Directors of Jammu and Kashmir Schedule Castes, Schedule Tribes and Backward Classes Development Corporation (JKSCSTBCDC) here.Managing Director JKSCSTBCDC, Ramesh Chander, senior officers from Social Welfare, Finance, Planning and concerned department were present in the meeting where as Principal Secretary Social Welfare Department Bipul Pathak attended the meeting via video conferencing.At the outset, Managing Director JKSCSTBCDC gave a detailed presentation about the functioning and achievements of the Corporation.The Chair discussed the action taken report on the implementation of 39th BOD decisions besides minutes of previous BOD meeting were also confirmed in the meeting.
Besides, proposal for enhancement of subsidy component in favour of Backward Classes at par with SC & ST categories, purchase of land for the construction of the office building of the Corporation, purchase of new vehicles for the Corporation, filling up of the vacant posts, proposal for third party monitoring/evaluation study, publicity and perception management, performance under various schemes were also discussed in the Board meeting.The Advisor took detailed review of the loans advanced, recovery position, overall strength of the staff of the Corporation and position of accounts.
The Managing Director JKSCSTBCDC apprised the meeting that the Corporation has provided loans to the people of the targeted groups, regarding which the Advisor emphasized upon the simplification of documents for seeking loan by the beneficiary under Direct Financing schemes.The Advisor also stressed upon to organise awareness programmes to provide well needed publicity to the schemes of the corporation.In order to deal with recovery issues of all the bad loan cases and wilful chronic defaulters, the Advisor approved one time settlement scheme for better recovery.
The Advisor was further informed that the Corporation has recovered loans to a tune of 92 per cent this financial year, whereas total recovery till date since inception of the Corporation is about 84 per cent.He directed the MD of the Corporation to submit the detailed lists of the beneficiaries assisted with details of activity and quantum of loans.The Advisor also appreciated the efforts of the Corporation in providing loans to record number of persons since formation of the Union Territory.
He directed the Corporation to frame a plan for wider publicity so that message would reach to the target group population.Farooq Khan also reviewed the loan facilities for pursuing higher studies, and exhorted upon the officers to publicize the scheme so that more students can take advantage of the scheme at nominal rate of interest and pursue their studies in the country and abroad.
