88 self employment cases under SEP sanctioned in Kathua

KATHUA: To provide assistance to urban poor desirous of setting up gainful self-employment ventures, microenterprises suited to their skills, aptitude and local conditions, DDC, Ramesh Kumar today sanctioned 88 self employment cases amounting to Rs 1.38 crore under SEP component of DAY-NULM.
DDC exhorted upon all to meet the target set for the financial year 2017-18 and directed all the concerned quarters to expedite the sponsoring as well as the disbursement of cases with in stipulated time frame.
The loan cases were from MC Kathua, Billawar, Hiranagar and Parole areas of Kathua district. No minimum educational qualification is required for prospective beneficiaries under this component. However where the identified activity for micro-enterprise development requires some special skills, appropriate training is provided to the beneficiaries before extending financial support. The financial assistance available to urban poor in setting up individual and group enterprises will be in the form of Interest subsidy on the bank loans. Interest subsidy at the rate of 7% rate of interest will be available on a bank loan for setting up of individual or group enterprises.
The meeting was attended by PO DUDA, LBO SBI Kathua, Representative of DIC Kathua, Chief Manager PNB Kathua and Nodal Officer J&K Bank Kathua.