SRINAGAR, Sep 19: Shri Rohit Jain, Deputy Governor, Reserve Bank of India chaired a meeting with the Zonal Heads of major banks operating in the Union Territory of Jammu & Kashmir on September 18, 2026, at Srinagar.
The Deputy Governor, in his opening remarks, highlighted the important role played by banks in supporting economic activity and strengthening financial inclusion in the UT of J&K.
He emphasised the need for banks to maintain adequate banking infrastructure, improve credit delivery and ensure greater outreach of banking services to priority sectors, particularly to underserved sections.
He also underscored the importance of coordinated efforts by banks towards meeting the evolving credit requirements of the UT. While emphasising the importance of customer service and grievance redressal, he underlined that banks should remain responsive to customer needs.
He stressed on the need for greater digitalisation of banking services, while highlighting the growing concern around digital frauds. He also emphasised the need for banks to increase loan processing through Unified Lending Interface (ULI), highlighting its potential to transform credit delivery in a manner similar to the transformation brought about by UPI in digital payments.
Regional Director, RBI, Jammu presented a broad overview of the financial landscape of the UT of J&K, highlighting its economic potential across agriculture, MSMEs, tourism, handicrafts and services.
Subsequently, the financial landscape of the UT of J&K, was presented by the Zonal Heads of major banks present in the region including banking network, Credit-Deposit Ratio, credit flow and Priority Sector Lending, along with the progress on onboarding of banks on the Unified Lending Interface (ULI), re-KYC coverage and settlement of unclaimed deposits including special initiatives undertaken by their respective banks for the UT of J&K.
|