Srinagar, Sep 18 (IANS) Deputy Governor of the Reserve Bank of India (RBI), Rohit Jain, on Friday reviewed banking operations in Jammu and Kashmir, emphasising the need for a stronger credit push and wider adoption of the Unified Lending Interface (ULI).
An official statement said Jain convened a meeting with Zonal Heads of major banks operating in J&K. In his opening remarks, he highlighted banks’ role in supporting economic activity and strengthening financial inclusion in the region.
He urged banks to maintain adequate infrastructure, improve credit delivery, and ensure greater outreach to priority sectors, particularly underserved sections. Jain also stressed the importance of coordinated efforts to meet evolving credit requirements and underlined the need to respond to customer service needs and grievance redress.
The Deputy Governor called for greater digitalisation of banking services while cautioning against rising digital frauds. He emphasised that banks should increase loan processing through ULI, noting its potential to transform credit delivery, similar to the impact of UPI on digital payments.
Regional Director, RBI, Jammu, presented an overview of J&K’s financial landscape, highlighting economic potential across agriculture, MSMEs, tourism, handicrafts, and services. Zonal Heads of banks also shared details of their operations, including the banking network, Credit-Deposit ratio, credit flow, and Priority Sector Lending.
The review included progress on onboarding banks to ULI, re-KYC coverage, settlement of unclaimed deposits, and special initiatives undertaken by banks for J&K.
–IANS
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