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J&K govt to finance two lakh entrepreneurs under various self-employment schemes: LG

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Reviews status of self-employment schemes with Secretaries, bank officials

Srinagar: Lieutenant Governor Manoj Sinha on Monday said the UT administration has set a target of two lakh cases of entrepreneurs which will be provided subsidies under self-employment schemes.

The LG made the announcement during a meeting with the Secretaries of government departments and bank officials.

The LG said that women entrepreneurs from the SC/ST and OBC categories will be provided special attention while directing DCs to ensure saturation of social security schemes, basic amenities in the border areas in their respective districts.

“Reviewed the status of self employment schemes with Secretaries and bank officials. Set the target of two lakh cases for financing/disbursement under self employment schemes,” LG Sinha wrote in a tweet.

According to an official press release, the LG said that SC, ST, OBC and women entrepreneurs should be given special focus in the self-employment schemes. He further asked the DCs to ensure the saturation of social security schemes and basic amenities, especially in far-flung and border areas.

The LG asked the banks to lay out uniform criteria for ensuring that no deserving candidate is denied the financial inclusion benefits due to trivial reasons.  He directed them to designate nodal officers who will ensure the timely disposal of loans to the beneficiaries of employment generation schemes.

Impressing upon the Secretaries of concerned departments and Deputy Commissioners to saturate the coverage of various schemes including KCC, Mudra, Fasal Bima Yojana and others, the LG said that departmental coordination and involvement of all stakeholders including banks, cooperatives, departments of Skill Development, and Labour and Employment is imperative for achieving the desired results of benefitting the common man of the UT.

The LG reiterated his directions of identifying minimum five youth from each Panchayat for skill development and hand-holding, with dedicated focus on the border and remote areas of the UT.

Expressing dismay over the low CD ratio of banks, the LG issued strict directions to the heads of respective banks to increase their CD to more than the minimum benchmark of 40 percent, the press release said.

He asked the Commissioner/Secretary, Planning, Development and Monitoring department to regularly collect data from the banks and coordinate with them so as to ensure optimum available opportunities to the unemployed youth.

He further directed for developing a common dashboard for monitoring the process and ensuring that all the benefits of intended self employment schemes are extended to the grassroot level.

The LG also issued instructions for the marketing and forward linkages for finished handicraft and other local products.

Rajeev Rai Bhatnagar, Advisor to the LG; Dr Arun Kumar Mehta, Chief Secretary; Atal Dulloo, Additional Chief Secretary, Finance department; RK Chibber, Chairman J&K Bank; Administrative Secretaries, Deputy commissioners, besides senior officers from RBI, SBI, NABARD, PNB and other banks, and UT administration attended the meeting in person and through video conferencing, the press release said.

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