KVIB sponsors 1240 cases for Rs 2937 lakh loan

JAMMU: KVIB for 2016-17 till February 24 this year has sponsored 1240 cases involving a loan amount of Rs. 2937.00 lakh through various banks.
This was disclosed during a meeting of J&K Khadi and Village Industries Board (KVIB) functionaries chaired by Minister for Industries and Commerce Chander Parkash Ganga .
The meeting was informed that target for sponsorship of 1900 units was assigned to KVIB for 2016-17 and accordingly upto February 24 this year 1240 number of cases involving the loan amount of Rs. 2937.00 lakh have been sponsored by various banks.
Similarly, target for sponsorship of 893 units was assigned to KVIB for 2016-17 under PMEGP, out of which 754 were achieved generating 4684 jobs, in addition to the number of candidates who were imparted trainings under various crafts including bee keeping in various training camps. The Board has also organized district and State level exhibitions.
The minister stressing upon KVIB functionaries to focus on providing “Micro Units Development and Refinance Agency (MUDRA) scheme” for the establishment of “start ups” and Entrepreneurial Ventures in Textile Sector to the entrepreneurs.
He called for organizing more orientation and awareness programmes to acquaint the entrepreneurs about the scheme which aims to provide financial assistance to them by providing loans at reasonable interest rates.
The State Government has designated J&K KVIB as one of the implementing agencies under the MUDRA Scheme. Vice Chairman J&K KVIB Peerzada Mansoor Hussain Sohrawardhy, Commissioner/Secretary, Industries & Commerce Department, Shailendra Kumar,   Director Industries and Commerce Kashmir, Secretary/CEO J&K KVIB, representatives of Finance, planning and Cooperatives and concerned officers besides Board members attended the meeting.
Speaking at 101st Board of Directors meeting of Khadi & Village Industries Board (KVIB), here, the Minister, who is also Chairman of the KVIB, urged for generating more employment opportunities for the rural youth by developing entrepreneurship culture in the State. The Minister enjoined upon the KVIB officers to provide full support to the budding entrepreneurs.
Ganga while reviewing physical and financial achievement under Prime Minister’s Employment Generation Programme (PMEGP) asked the KVIB to remove the bottlenecks for smooth implementation of Web based online PMEGP Application processing.
The Minister reviewed progress under various schemes including Backward and Forward Linkage Programme, Scheme of funds for regeneration of traditional industries, and other schemes and also discussed various agenda items like achievements of the board during the year 2013-14 to 2016-17, Capex BUDGET (Plan) proposals for the year 2017-18, regularization of contractual employees, etc.