Advises KVIB, financial institutions to devise SOPs to minimize instances of rejection
SRINAGAR: Commissioner Secretary Industries & Commerce, Vikramjit Singh, who is also chairman JKREGP-UTLMC today chaired 6th UTLMC meeting at Civil Secretariat here.
The meeting was attended by Director, Industries & Commerce Jammu, Director, Entrepreneurship Development Institute, Director Planning Industries & Commerce Department, officers from J&K Bank, J&K Grameen Bank and J&K State Coop. Bank, Secretary/CEO J&K KVIB and other senior officers of the Board.
During the meeting, the performance under JK Rural Employment Generation Programme (JKREGP) was reviewed and it was informed that during the financial year 2023-24, Margin Money of Rs 2331.10 lakh has been released for establishment of 916 units thereby creating employment opportunities for 5496 persons. Commissioner Secretary applauded the overall performance under JKREGP.
He, however, raised the issue of high instances of rejection and advised J&K KVIB and financial institutions to devise SOPs to minimize the instances of rejection. Target for establishment of 1372 Units involving Margin Money of Rs 2274 lacs for the Financial Year 2024-25 were approved by the Committee.
Commissioner Secretary expressed his satisfaction over the implementation of the Scheme and utilization of funds during the FY. 2023-24.
He underlined the need for close coordination and synchronisation among the J&K KVIB and bankers to ensure that the benefits of J&K KVIB are percolated among target population.