Jk-Bank Allocates Rs 1384 Crore Credit for Establishing 94,680 Business Units; Lieutenant Governor Commends Efforts

Jk-Bank Allocates Rs 1384 Crore Credit for Establishing 94,680 Business Units; Lieutenant Governor Commends Efforts

Asif Iqbal | January 25, 2024 | 10:09 AM IST | Jammu Kashmir | Follow on Google News

Jk-Bank Allocates Rs 1384 Crore Credit for Establishing 94,680 Business Units; Lieutenant Governor Commends Efforts.image/KL

Jk-Bank Allocates Rs 1384 Crore Credit for Establishing 94,680 Business Units; Lieutenant Governor Commends Efforts

Just two days ahead of Republic Day, the Jammu and Kashmir administration facilitated entrepreneurship and self-employment opportunities for a staggering 94,680 young individuals in a single day, as reported by an official spokesman. The Jammu and Kashmir Bank played a crucial role in this initiative by extending credit amounting to Rs 1384 crore to support the establishment of these business units.

Lt Governor Manoj Sinha commended the efforts of the Jammu Kashmir Bank, praising its significant contribution to the Ghar Ghar KCC Abhiyaan and Swarozgar Utsav campaigns. These campaigns, focused on the financial empowerment of farmers and youth, reached a significant milestone with the distribution of sanction letters for new units and startups.

“Today, J&K sets a new record by issuing sanction letters for the establishment of new units and startups, fulfilling the dreams of the youth to become job creators rather than job seekers,” emphasized the Lt Governor. He highlighted the transformative impact of this event on the economic landscape of Jammu and Kashmir, underlining the pivotal role played by Jammu Kashmir Bank as the common man’s bank.

Under the Swarozgar Utsav initiative, covering all Panchayats in the region, the bank is set to provide a substantial amount of Rs 1384 Crore to facilitate the establishment of new units and startups. Lt Governor Sinha affirmed a commitment to providing training and supportive infrastructure for sustainable employment in these units, fostering a conducive environment for entrepreneurship and self-employment.

The Lt Governor also praised the achievements in saturating the Kisan Credit Card across Jammu and Kashmir through the Ghar-Ghar KCC Abhiyaan. Approximately 2 lakh farmers have been provided with Kisan Credit Cards, leading to a revolutionary transformation in the Agriculture and Allied Sector.

Expressing expectations from Jammu Kashmir Bank, the Lt Governor directed the institution to achieve saturation in Ghar Ghar KCC Abhiyaan, Stand-Up India, and Startups. He urged the bank to devise campaigns for extensive financial literacy programs, especially under the Back to Village and My Town My Pride initiatives, reaching out to a vast section of the population.

“As we embark on a path of renewed economic and social development in Jammu and Kashmir, Banks, especially J&K Bank, will have to ensure the economic needs of farmers, youth, and women are catered to with people-friendly schemes aimed at the creation of employment and livelihood opportunities,” remarked the Lt Governor.

During the ceremony, the Lt Governor presented Insurance Claim Settlement cheques to the legal heirs of deceased Government Employees covered under the Bank’s Group Personal Accidental Insurance. He also felicitated successful entrepreneurs and farmers financed by the Bank.

In a technological leap, the Lt Governor launched the Kisan Sathi Chatbot, an AI-based farmer-friendly application developed by the Agriculture Production Department. The J&K Bank also contributed Rs 40.27 Lakh under its CSR initiative for the chatbot application.

Furthermore, as part of its CSR initiatives, J&K Bank handed over cheques worth Rs 3.35 Cr and Rs 3.84 Cr to representatives of Jammu Smart City and Srinagar Smart City, respectively, for the construction of e-bus bays/passenger sheds.

The bank’s other CSR initiatives include a commitment letter to the Administrative Secretary, Department of Health and Medical Education for providing 120 Patient trolleys and 120 wheelchairs to all the district hospitals of Jammu and Kashmir. Additionally, cheques worth Rs 26 Lakh for two transport ambulances to Principal Government Medical College Jammu, Rs 34 Lakh for one critical care ambulance to Director SKIMS, Rs 24 Lakh to the Commissioner Secretary Social Welfare, Rs 69.73 Lakh to Sewa Bharati representative, Rs 11 Lakh to the Vice-Chancellor of Central University of Jammu, and Rs 12 Lakh to the Vice-Chancellor University of Jammu were presented under various heads.

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.