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26/06/2018 03:57pm

J&K Bank to create specialized start-up vertical to encourage entrepreneurs set up own MSME units

image J&K Bank to create specialized start-up vertical to encourage entrepreneurs set up own MSME units

New Delhi, June 26 (KNN) Jammu and Kashmir Bank has decided to create a specialized Start Up vertical which will serve as a one point access to facilitate and encourage entrepreneurs to start their own MSME units and other any businesses, Chairman of the bank Parvez Ahmed told Governor NN Vohra during a meeting on Monday.

Further, he informed the Governor that the bank will be opening specialized all-women business units in Srinagar and Jammu and also planning a robust branch expansion by opening 200 Business Units during the current fiscal.

Parvez Ahmed, Chairman Jammu and Kashmir Bank, called on Governor N.N. Vohra, at the Raj Bhavan to apprise him about the banks’ achievement.

Highlighting the achievements, he said bank has accelerated the lending in agriculture, horticulture, handicrafts, hospitality & tourism, poultry, sheep & goat rearing and other sectors

Besides, the Bank has posted 20% credit growth in J&K State and is at the forefront in regard to the implementation of flagship schemes of Government of India under the Prime Ministers Mudra Yojna (PMMY), Ahmed added.

During the last fiscal, the Bank disbursed Rs 1540 crore to more than 83,000 beneficiaries, he added.

In view of the geographical bottlenecks in Ladakh the Bank has launched a pilot project to link all the 111 villages of Leh district by opening a network of 34 Ultra Small Branches which are likely to become functional in early September 2018.  

Chairman informed the governor that the bank has initiated enhanced Industry-Academia partnership for which Academic Excellence Medals have been introduced for men and women toppers in all Universities and Chairs for Professors for Rural Innovation and Start Ups are proposed to be established in different Universities.

Appreciating the functioning of the J&K Bank, Governor stressed the Bank’s high responsibility to play a pivotal role in speeding up the growth and development of the State.

He advised Chairman Parvez Ahmed to consolidate the Bank’s functioning on every front and clean up all bad debts.

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