Priority Sector Lending in Ladakh Reaches 39 Per Cent of Annual Target

SRINAGAR: Priority sector lending in Ladakh reached 39 per cent of the annual credit target with disbursements of Rs 3,447.5 crore, while overall deposits in the Union Territory grew by 13 per cent year-on-year to Rs 10,354.42 crore as of June 2025. These figures were revealed during the 13th Union Territory Level Bankers Committee (UTLBC) meeting chaired by Chief Secretary Pawan Kotwal in Leh on Wednesday.

Reviewing the banking performance for the quarter ending June 2025, Kotwal was joined by senior officials and representatives from the Reserve Bank of India, NABARD, and various banks. Under the non-priority sector, banks achieved 40 per cent of the target with Rs 3,128.6 crore in disbursements. Credit growth improved to 8 per cent year-on-year, with total advances standing at Rs 4,148 crore, taking the credit-deposit ratio to 41.60 per cent.

The Chief Secretary appreciated the efforts of the banking institutions and urged them to focus lending on key sectors such as agriculture, small businesses, and tourism. He stressed the importance of timely disbursement under government schemes like PMEGP and MUDRA and called for enhanced coordination between banks and departments to support entrepreneurs in remote areas.

Emphasising Ladakh’s sustainable development goals, Kotwal urged the promotion of vegetable cultivation through modern practices and the expansion of solar energy infrastructure to reduce dependence on conventional power sources.

A detailed presentation on banking performance was delivered by Tsering Wangmo, Chief Manager, State Bank of India, highlighting progress in financial inclusion, credit flow, and the credit-deposit ratio.

The Regional Director of RBI, Jammu, informed that the Department of Financial Services has launched a nationwide campaign on unclaimed financial assets and directed banks to identify and return unclaimed deposits in compliance with regulatory norms.

The meeting was attended by Commissioner Secretary Laltinkhuma Franklin, Administrative Secretaries Shashank Ala, Bhupesh Choudhary, and Rudra Goud, Regional Director RBI Jammu Chandra Shekar Azad (via VC), DC Kargil Rakesh Kumar (via VC), ADDC Leh Sonam Norbu, Zonal Head JK Bank Tsewang Dorjey, AGM NABARD Tsewang Dorjey, and senior officials from SBI, NABARD, and other member banks.