Finance Minister handed over loan sanction letters of Rs 306 to 145

Finance Minister handed over loan sanction letters of Rs 306 to 145

Union Finance Minister Nirmala Sitharaman on Tuesday handed over loan sanction letters worth Rs 306 crore to beneficiaries in Jammu and Kashmir and announced several initiatives including Rs 200 crore Cluster Development Fund for the Union Territory.

On the last day of his two-day visit, he also laid the foundation stone of Rural Self-Employment Training Institute buildings in Shopian and Baramulla districts of the Kashmir Valley.


The Union Minister along with Lieutenant Governor Manoj Sinha attended the credit outreach program and other programs organized by the Bankers Committee of Jammu and Kashmir at the General Zorawar Singh Auditorium Complex of the University of Jammu here.

On the occasion, Sitharaman handed over sanction letters worth Rs 306 crore to 145 beneficiaries of various banks and other credit linked schemes including Prime Minister’s Employment Generation Programme, Mudra Yojana, Self Help Groups, Joint-Liability Groups.

The Union Finance Minister also announced new schemes and initiatives for the Union Territory, including the launch of Tejaswini and Hausla schemes; Shikhar and Shikara schemes of Punjab National Bank and Rs 200 crore Cluster Development Fund of SIDBI,

Under the special scheme of PNB, ‘Shikara’ credit up to Rs 15 lakh will be given for purchase and repair of shikaras and houseboats. The ‘Shikhar’ scheme focuses on meeting loan requirements of up to Rs 2 crore for the hotel, tour and tourism industry.

JKTPO’s Hausla scheme will empower existing women entrepreneurs to become role models in their fields by providing credit support, marketing support and mentorship along with skill development.

Under Tejaswini Yojana, financial assistance up to Rs 5 lakh is to be given to young women for setting up profitable self-employment ventures.

Speaking on the occasion, Sitharaman said that she will ensure that there is maximum banking activities in J&K and that more and more public sector banks set up branches in all the districts so that every person can have access to banking facilities.

He said, “The projects which have been in the pipeline for a long time are being implemented expeditiously, those sections of the society which have never received any assistance from the government are getting them and credit is being provided to the genuine businesses. Is.”

Sinha highlighted the important role of credit outreach programs and smart lending in enabling the government’s policies to reach all sections of the society.

He said that the mega credit outreach campaign in all the districts would give impetus to economic activities and ensure that loans reach the needy easily.

LG underscored the need for building a stronger partnership between banks and business entities for greater investment, growth, innovation and employment. “I want the banks in Jammu and Kashmir to be not a wall, but a floor of opportunities,” he said.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

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