BFSI Sector: Lt Governor launches 2nd phase of Skill Development Training Program

Srinagar, Aug 14: Lieutenant Governor Manoj Sinha Sunday launched the second phase of Skill Development Training Program for women and youth in Banking, Financial Services & Insurance (BFSI) Sector, here at SKICC.
In the second phase, 5000 youth from UT will be trained to tap the employment avenues in the flourishing Banking & Financial Services sector.
Speaking on the occasion, the Lt Governor appreciated the efforts of Mission Youth, Bombay Stock Exchange (BSE) and State Bank of India for coming together to provide a vibrant medium to train and empower 5000 J&K youth in BFSI Sector.
Emphasizing on equal participation of girls in the BFSI training programme, the Lt Governor asked the Mission Youth and BSE to ensure that 2500 young girls from the UT are enrolled in the training.
He further called for ensuring minimum participation of 200 youth from every district and focusing on those from underprivileged sections of the society, followed by systematic facilitation for starting their professional career.
Highlighting the initiatives taken by Mission Youth to transform the youth into ambassadors of peace, prosperity and development, the Lt Governor said that the various programmes aimed at Livelihood Generation, Education, Skill Development, providing systematic financial assistance has led to opening new vistas for our enterprising youths, besides connecting them with various development oriented initiatives of the government.
Mission Youth has partnered with reputed institutions of the country including BSE Institute, ICICI Foundation, Ashok Leyland, Wipro etc. with an aim to facilitate skilling of youth in various high employability potential sectors, said the Lt Governor.
Despite Covid pandemic, more than 30,000 youth, including 11,600 girls, have been provided with direct livelihood means during 2021-22, he added.
Stressing that Financial Inclusion is the key to achieving sustainable development and improving the quality of life, the Lt Governor said that the recent reforms and initiatives of the government have made banking and credit facilities accessible to all.
Earlier, J&K lacked a solid mechanism for providing financial and banking literacy to the youth as banking facilities were limited to a few, he further observed.
The talented youth of J&K are playing an instrumental role in making UT a star performer in startup ecosystem. We are making dedicated efforts to impart financial and banking education to our youth, harnessing their potential by creating an enabling environment and equipping them with skills as per requirements of the changing global market, the Lt Governor said.
The Lt Governor observed that the administration will continue to run institutional and employment oriented training programs in the UT through ‘Mission Youth’ to empower the youths of J&K.
The industrial revolution taking place in the UT and the massive private investment coming to J&K will provide 5 to 6 lakh employment opportunities to the youth, the Lt Governor further added.
A number of customized livelihood generation schemes including Mumkin, Tejaswini, Spurring Entrepreneurship, Rise Together, Avsar, Re-defining Paradise and Home Stay Development have already been designed for the youth of Jammu and Kashmir wherein the government is acting as facilitator for the youth to establish a sustainable livelihood in various economic sectors, it was informed.
The Lt Governor also made special mention of the youth who have successfully established their ventures, and are not only earning livelihood for themselves but are also providing employment to many others.
Dr Arun Kumar Mehta, Chief Secretary, emphasized the need to develop end-to-end digitization of the Banking and Financial Training being provided to the youth, besides developing an ecosystem of substantial lending to support self-employment, and creating a higher level of employment generation.
He also highlighted the improvements being registered in the financial inclusiveness in the UT in the last two years.
Ashish Kumar Chauhan, MD & CEO NSE, while speaking on the occasion appreciated the Lt Governor led UT administration and Mission Youth for taking the initiatives to train the youth of the UT in Banking & Financial services.
Vinod Jaiswal, CGM, SBI, Chandigarh Circle, said that SBI echoed the sentiments expressed by the Lt Governor to bridge the gap between the financial services and the people of the UT. He also shared the future goals of SBI to further push financial and banking activities in J&K.
Sanjay Prakash, Managing Director & CEO, SBI Foundation congratulated all the career aspirants in the BFSI sector for the new programme launched today. He informed that under the programme, out of the 5000 youth, 2450 will be provided training this year.
Ambarish Datta, Managing Director & CEO, BSE Institute Limited highlighted the objectives behind the initiative and assured that the results that have been committed will be delivered. He expressed gratitude towards the UT Administration, Mission Youth, Heads of Colleges, BSE team and all stakeholders for their support.
Dr Shahid Iqbal Choudhary, CEO Mission Youth, in his welcome address, highlighted the measures taken by Mission Youth to empower the youth and provide them with gainful livelihood opportunities. He said that the BFSI training programme will further carry the concept of ‘Earn while you Learn’ to the youth and student community.