Srinagar, Sep 18 (KNO): Reserve Bank of India Deputy Governor Rohit Jain on Friday called upon banks operating in Jammu and Kashmir to strengthen banking infrastructure, improve credit delivery and expand financial services to underserved sections.
In a statement issued to the news agency—Kashmir News Observer (KNO), a spokesperson said 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, in 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 stressed the need for banks to maintain adequate banking infrastructure, improve credit delivery and ensure greater outreach of banking services to priority sectors, particularly underserved sections. He also underscored the importance of coordinated efforts by banks to meet the evolving credit requirements of the UT.
Emphasising the importance of customer service and grievance redressal, he underlined that banks should remain responsive to customer needs.
He also stressed the need for greater digitalisation of banking services while highlighting the growing concern over digital frauds. He emphasised the need for banks to increase loan processing through the 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.
The statement said the 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 Zonal Heads of major banks operating in the region presented the financial landscape of the UT, including banking network, Credit-Deposit Ratio, credit flow and Priority Sector Lending, along with progress on onboarding banks onto the Unified Lending Interface (ULI), re-KYC coverage and settlement of unclaimed deposits, besides special initiatives undertaken by their respective banks for the UT of J&K—(KNO)