Jammu, Feb 22 (PTI) Jammu and Kashmir Lieutenant Governor (L-G) Manoj Sinha on Tuesday said the union territory has become one of the preferred destinations for industrial investment, tourism, film industry and the real estate sector.

The government is committed to ensure adequate and timely availability of credit to industrial and different productive sectors of the economy to finance growth, he said.

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Sinha reviewed the progress towards financial inclusion made by banks in Jammu and Kashmir with RBI Deputy Governor RBI M K Jain, Chief Secretary Arun Kumar Mehta and other officials.

He shared the vision of the government of extending banking and financial services at the doorsteps of the people in the union territory.

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"J&K has become one of the preferred destinations for industrial investment, tourism, film industry and the real estate sector," the L-G said.

In the last two years, various reforms have been executed to provide opportunities to scheduled commercial banks to expand operations in the union territory, he said.

"We will also work together to make our credit lending system more sensitive to the needs of women and youth entrepreneurs, farmers and artisans," Sinha added.

There is a need to set up additional banking outlets in rural areas to bring more households into the fold of institutional credit and financial services in a structured and sustainable manner, he said.

The enabling ecosystem will also bridge the gap between government schemes and people living in geographically difficult terrains, he added.

The L-G asked officers to explore all possibilities for extending financial hand-holding to eligible beneficiaries through various government schemes and interventions.

RBI Deputy Governor Jain highlighted the importance of increasing the presence of banks for greater financial inclusion.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)