Srinagar: J&K Bank conducted several financial literacy camps across the Budgam district, a bank spokesperson said on Monday.
The bank’s financial literacy and credit counselling (FLCC) Centre Budgam organised awareness camps at villages Hamchipora and Trappy in Khaag, Brail in Khansahib, Suzeth in Narbal and Town Hall Budgam; which were attended by scores of people including artisans, growers, students, senior citizens and women representing cross-section of the society. Business Correspondents and representatives from local B.Us were also present at the financial literacy camps organised partly in collaboration with Handicrafts Department and NABARD.
Speaking at the camps in Hamchipora, Trappy and Town Hall Budgam, Facilitator FLCC Budgam informed the audience about the benefit of savings, opening of bank accounts and availing other financial products of the banks.
He urged the participants to open No Frills Account with the banks and keep their savings not only in the safe custody of banks but earn out of their savings as well. He encouraged them to avail the benefit of the loan schemes which attract low rate of interest to improve their economic conditions.
Since maximum population of the village is engaged in Shawl, Sozni and Crewel works, they were urged to register themselves with handicrafts department and avail the financial support from banks under ACC scheme, which attracts low rate of the interest easily affordable for every artisan.
Representative from handicrafts department educated the village artisans about the formalities and procedures for obtaining Artisan Credit Cards from the department and availing credit facilities from banks to boost their activity under the scheme.
The audience was informed about the services offered by J&K Bank RSETIs while providing free of cost skill training to rural poor and enabling them to start their own units with the assistance of bank finance.
Explaining to the audience at Brail Khansahib, FLCC Budgam emphasized the need of covering each household under financial inclusion and connecting them with financial system so that everyone gets benefited from the fruits of financial and economic development of the state.
Besides continuing with developmental and promotional initiatives in the area of farm & non- farm agriculture sector, the camp in Suzeth was organised to give boost to sericulture activity through a package of incentives from NABARD at state and central level and through formation of Farmers Club.
Speaking on the occasion, LDM Budgam apprised the participants about the sericulture activity, which falls under priority sector and assured of financial support from all the banks in the district.
Deputy Director Sericulture NABARD assured the participants that the efforts were being made at state level to bring the said activity under KCC scheme enabling them to get all the benefits of the scheme including interest subvention.