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3.41 lakh small, big business units availed benefits of interest subvention: LG

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Hands over Rs 250 cr to J&K Bank as second installment of 5% interest subvention

Jammu: Lieutenant Governor Manoj Sinha Wednesday handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as second installment of 5 percent interest subvention under economic package as a relief for the business sector in J&K.

While interacting with the media-persons on the occasion, the LG observed that around 3.41 lakh small and big businessmen and business establishments have availed of the benefits of the interest subvention.

“We will continue to release the interest subvention part as and when we receive the request,” the LG added.

Highlighting the initiatives taken by the government for bringing reforms in the economic sector in J&K, the LG said that an amount to the tune of Rs 264 crore has been disbursed as financial assistance to 16,800 youth identified to become entrepreneurs under the ‘Back to Village’ and ‘My Town My Pride’ programmes, and termed the initiative as Bank’s “home delivery of services to the aspiring entrepreneurs”.

Replying to the queries of the media-persons, the LG according to an official press release observed that investors from across the globe are eyeing J&K as their “preferred” investment destination.

“With a ready land bank and plethora of opportunities waiting for them, the investors will find J&K as a promising and lucrative destination for their investments. The Rs 28,400 cr New Industrial Development scheme, will certainly boost the morale of entrepreneurs and investors,” he said.

In the Healthcare sector, the LG said that all efforts would be made to bring big players in the sector to the UT.

Arun Kumar Mehta, Financial Commissioner, Finance Department; RK Chhibber, Chairman and MD J&K Bank and Sunit Kumar,  Zonal Head, J&K Bank were present on the occasion.

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