VC JK-KVIB presides over interactive session with PRI members at Budgam

Budgam, Sep 14: Dr. Hina Shafi Bhat, Vice Chairperson (VC) J&K-KVIB Wednesday presided over Interactive Session with DDC/BDC members and representatives from PRIs at Budgam.
Besides DDC/BDC members and PRI representatives, the session was also attended by senior officers from Board, District Administration, senior officers from banks and a large number of aspirant entrepreneurs and educated unemployed youth of Budgam.
During the interactive session, Dr. Hina gave a brief about the employment generation programmes being implemented by the Board.
Calling the Panchayat Raj Institutions as drivers of rural economy, she enjoined upon the line departments and banks to utilize their services in identification of genuine and deserving candidates under employment generation programmes. She further underlined the need for close coordination and synchronisation among the line departments and bankers to ensure that the benefits of these schemes are percolated among the target population.
Dr. Hina asked LDM Budgam and Cluster Head JK Bank that in consonance with guidelines of RBI, circular instructions must be issued to bank branches not to seek collateral security from cases involving project cost of upto Rs. 10.00 lacs under PMEGP and JKREGP.
Referring to pendency at banks, she enjoined upon financing bank branches to process the cases strictly as per timelines fixed in the scheme guidelines. She assured that every kind of hand-holding support shall be extended to aspirant/ prospective entrepreneurs to ensure hassle free processing of their proposals both at Implementing Agency as well as bank level.
Dr Hina informed that from 2019-20 to 2022-23 as on date, margin money of Rs. 59.29 crores with bank loan of Rs. 165 crores has been provided for establishment of 2732 units thereby creating employment opportunities for 21590 people under JKREGP and PMEGP in District Budgam through J&K KVIB.
Earlier, officers from the Board and bankers gave a detailed presentation about the modalities involved in implementation of JKREGP and PMEGP. The stakeholders were informed that these schemes are online and aspirant entrepreneurs can apply online for availing financial assistance under these schemes.