Premier banking institutions should reach out to budding entrepreneurs: J&K CM to Rajan

Jammu, May 2 (KNN) Jammu and Kashmir Chief Minister Mehbooba Mufti has sought for Reserve Bank of India’s help to ensure that the premier banking institutions reach out to state’s young and budding entrepreneurs and help them in establishing business units.

She said this in a meeting with RBI Governor Raghuram Rajan on Saturday during which the issues related to the banking sector in the state were discussed.

In a series of tweet, PDP said that Mufti sought for a better coordination of banks in creating “ample opportunities of employment for youth in the state”.

The J&K CM highlighted the need to achieve RBI benchmark of 60 per cent CDR urging banking institutions to scale up lending.

“Banks should look at social sector responsibilities as thrust areas & advance hassle-free loans to bright entrepreneurs and agriculturists,” she said.

She also requested the RBI Governor to expedite working out modalities for establishing banking facilities for cross-LoC trade.

“Switching from barter to banking at two trading points of Salamabad & Chakan da Bagh will expand the scope & ambit of cross-LoC commerce,” she said.

Mufti also requested the RBI chief to facilitate institutional finance for setting up model villages for basmati, apple, mint & milk. (KNN Bureau)