What does SLBC mean in BANKING
SLBC stands for State Level Bankers Committee. It is an important part of the Indian Banking system which works to create coordination between different banks, regional and state-level government organizations and other agencies or institutions related to banking and finance. The primary objective of this committee is to promote and monitor the development of cooperative credit structure in each State and Union Territory (UT) of India.
SLBC meaning in Banking in Business
SLBC mostly used in an acronym Banking in Category Business that means State Level Bankers Committee
Shorthand: SLBC,
Full Form: State Level Bankers Committee
For more information of "State Level Bankers Committee", see the section below.
Functions
The work undertaken by SLBC mainly focuses on examining any proposed changes needed in existing banking policies and providing recommendations for further action from their end if found necessary. They are also involved with undertaking regular reviews about assessment of credit potentials in districts under their respective jurisdictions for both food grains and industrial production loans based on district wise targets set by them or RBI. Another essential function carried by them is creation/ implementation/monitoring/reviewing different training programmes developed exclusively for bank officers with respect to increasing their knowledge base related to different banking operations such as SGSY loan scheme and KCC product. Additionally it also works towards encouraging banks towards making proper use of available government subsidies so that maximum beneficiaries can be reached in an efficient manner with effective utilisation of funds allocated by central government or any other institution concerned with Agriculture credit or Micro finance activities.
Essential Questions and Answers on State Level Bankers Committee in "BUSINESS»BANKING"
What is the purpose of the State Level Bankers Committee?
The State Level Bankers' Committee (SLBC) was created by RBI to provide a platform for regular interactions between state government officials and banks operating in the state. SLBC works to coordinate and promote the banking activities in the state, with special emphasis on identifying credit gaps and using technology efficiently to reach out to difficult-to-reach areas.
What are the roles certain member of SLBC?
The Chairman of SLBC is designated by Reserve Bank of India, usually as State's Principal Secretary/Secretary in charge of Finance Department or Chief Secretary or a senior official nominated by them. The other members will consist of bank representatives from public sector, private sector and foreign banks operating in respective States, representatives from Regional Rural Banks (RRBs), financial institutions, SIDBI and NABARD.
How often does SLBC meet?
SLBC meet once every quarter for review of progress in implementation of various aspects highlighted at previous meetings and new initiatives identified for progress.
Who attends the SLBC meeting?
Apart from all members mentioned above, representatives from Line departments such as Agriculture & Co-operation, Revenue & Land Reforms, Industries & Commerce etc., District Collectors/Deputy Commissioners also attend these meetings.
What are some common functions of an SLBAC meeting?
During regular meetings Members discuss important issues such as credit delivery system reforms, financial inclusion initiatives, quick resolution of borrowers’ grievances, credit monitoring mechanism etc. It also reviews performance in all key areas such as priority sector lending targets; agricultural advances; small business advances; flow of credit to weaker sections; institutional credit; loan processing time; staff rationalization/recruitment process etc. It also looks into projects under Prime Minister’s Employment Generation Programme (PMEGP).
Are there any additional meetings beyond quarterly sessions?
In addition to regular quarterly meetings Special meetings may be convened any time depending upon necessity.
Who should be contacted if I am facing any issue related to banking services?
Depending upon your problem you should contact concerned bank Branch Manager or Regional Office representative for quick redressal.
How can one apply for SIDBI products offered by SLBC?
You can refer SIDBI website for details regarding application procedure which may differ as per product selected.
Final Words:
SLBC plays an extremely crucial role when it comes to monitoring the progress of banking sector within a particular state or union territory taking necessary steps wherever needed so that benefits generated through all initiatives reach majority population pockets without causing any disruption or hindrance leading towards betterment and promotion of financial inclusion across country’s agrarian landscape.
SLBC also stands for: |
|
| All stands for SLBC |