J&K Bank Extends Rs 1384 Credit for Setting Up 94680 Biz Units, LG Appreciates

J&K Bank Extends Rs 1384 Credit for Setting Up 94680 Biz Units, LG Appreciates

SRINAGAR: Two days ahead of Republic Day, the Jammu and Kashmir administration provided entrepreneurship and self-employment opportunities to 94,680 youth in a single day, an official spokesman said. JK Bank extended Rs 1384 crore credit for setting up these business units.

Commending the efforts of Jammu Kashmir Bank, Lt Governor Manoj Sinha applauded the institution for its role in strengthening the Ghar Ghar KCC Abhiyaan and Swarozgar Utsav campaigns. These initiatives, dedicated to the financial empowerment of farmers and the youth, have now reached a significant milestone with the distribution of sanction letters for setting up new units and start-ups.

“Today, J&K creates a new record by distributing sanction letters to set up new units and start-ups that will fulfil dreams of youth and their aspiration of being a job creator and not a job seeker,” stated the Lt Governor, emphasising the transformative impact this event will have on the economic landscape of Jammu and Kashmir.

Sinha highlighted the pivotal role played by Jammu Kashmir Bank as the common man’s bank, contributing significantly to the welfare of the people. Under the Swarozgar Utsav initiative, covering all Panchayats of Jammu and Kashmir, the bank is set to provide a substantial amount of Rs 1384 Crore to facilitate the establishment of new units and start-ups.

“We will provide training and supportive infrastructure to create sustainable employment for more youth in these units,” added the Lt Governor, underlining the commitment to fostering a conducive environment for entrepreneurship and self-employment.

The Lt Governor also lauded 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, paving the way for 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.

Bank’s other CSR initiatives also 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, handing over of cheque worth Rs 26 Lakh for two transport ambulances to Principal Government Medical College Jammu and Rs 34 Lakh for one critical care ambulance to Director SKIMS. A cheque of Rs 24 Lakh was presented to the Commissioner Secretary Social Welfare; Rs 69.73 Lakh cheque to Sewa Bharati representative; a cheque worth Rs 11 Lakh to the Vice-Chancellor of Central University of Jammu and Rs 12 Lakh to the Vice-Chancellor University of Jammu under various heads.