Reviews banking performance and sectoral initiatives in Ladakh
Diplomat Correspondent
Leh,DD, The Chief Secretary of the Union Territory of Ladakh, Dr. Pawan Kotwal, chaired the 12th Union Territory Level Bankers’ Committee (UTLBC) meeting to review the banking sector’s performance for the quarter ending March 2025.
During the meeting, it was informed that banks in Ladakh achieved 128% of the annual credit target by disbursing ₹1182.31 crore. Additionally, a total of ₹2789.71 crore was disbursed under priority and non-priority sector advances, achieving 148% of the set target. The UT recorded a 12% year-on-year growth in total deposits, reaching ₹10,260.63 crore as of March 2025, while total credit grew by 10%, amounting to ₹4589.41 crore. The Credit-Deposit (CD) Ratio stood at 44.73% for the said quarter.
The meeting commenced with a welcome address by Shri Jayant Mani, Deputy General Manager, State Bank of India, who welcomed the Chairman Dr. Pawan Kotwal and other dignitaries.
A detailed presentation highlighting the banks’ achievements and performance was delivered by Smt. Tsering Wangmo, Assistant General Manager and Convenor, UTLBC Ladakh.
The Chief Secretary directed banks with CD Ratios below 40%—including BOB, JKB, ICICI Bank, HDFC Bank, AXIS Bank, YES Bank, IndusInd Bank, Bandhan Bank, and JKSCB—to submit a monitorable action plan to the UTLBC within 15 days.
Under a special agenda, a resolution was passed acknowledging the negative impact of the April 2025 incident in Jammu & Kashmir on Ladakh’s tourism sector. To support recovery, a committee comprising SBI, PNB, and J&K Bank was proposed to strategize sectoral support.
Dr. Kotwal emphasized greater outreach and sensitization for the PM Vishwakarma Yojana, particularly in traditional artisan regions like Bogdang, Khaltsi, and Chilling—famous for stone-based sculptures, carved religious inscriptions (Manis), and bronze utensils.
Further, he instructed all banks to ensure coverage of eligible loans under the Credit Guarantee Fund Scheme without demanding collateral. The Regional Director of RBI Jammu also reiterated that banks should provide loans up to ₹10 lakh without insisting on collateral security.
The Chairperson directed all major banks to ensure enrollment of eligible beneficiaries under PM Jeevan Jyoti Bima Yojana (PMJJBY) and PM Suraksha Bima Yojana (PMSBY) and urged proactive participation in the ongoing Jan Suraksha Saturation Campaign from July 1 to September 30, 2025.
The meeting was attended by Principal Secretary Sanjeev Khirwar; Regional Director, RBI Jammu Chandra Shekhar Azad); Administrative Secretary Vikram Singh Malik; General Manager, NABARD Vikas Mittal; Deputy Commissioner, Leh, Romil Singh Donk; senior officials from relevant departments, and representatives of member banks and financial institutions.
The meeting concluded with a vote of thanks delivered by Ravinder Singh, Regional Manager, SBI.DD
