‘28675 IGUs set up with bank assistance involving Rs 7.34 cr subsidy’

‘28675 IGUs set up with bank assistance involving Rs 7.34 cr subsidy’
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JAMMU: The Jammu and Kashmir Schedule Caste (SC), Schedule Tribe (ST) and other Backward Classes Development Corporation has established 28675 income generating units (IGUs) in the state with bank assistance involving subsidy of Rs 7.34 crore and bank loan of Rs 86.03 crore till date.
This was informed during the 38th meeting of Board of Directors (BoDs) of the corporation chaired by the Minister for Social Welfare, ARI Trainings and Science Technology, Sajad Gani Lone here on Sunday.
The meeting reviewed the functioning of the corporation besides status of various ongoing schemes, loan disbursement and recovery process, read n official handout.
According to the handout, the board took several decisions which included expansion of J&K SC, ST & BC Development Corporation and financial health of the corporation.
Minister of State for Social Welfare, Health & Medical Education, Asiea Naqash and Vice-Chairperson of the Corporation Balbir Ram were present in the meeting.
The BoDs deliberated at length on the steps required to be taken for revival of the corporation for making it more efficient and at the same time to provide more benefits to the under privileged section of the society, the handout read.
“The corporation under the Direct Financing Scheme with apex corporations of government of India (NSFDC, NSTFDC, NBCFDC, NHFDC, NSKFDC & NMDFC) has established 5761 income generating units involving term loan assistance of Rs.82.45 crore,” it read.
It further read that education loan was provided to 22 students of the target group for higher studies involving term loan assistance of Rs.46.21 lakhs.
The Minister for Social Welfare, Sajad Lone emphasised on “bringing more transparency and rationalisation in loan disbursement” so that all deserving beneficiaries get their due share.
He asked the concerned to “focus on wide coverage of beneficiaries of rural and far-flung areas” under the schemes of the corporation.
The minister directed the concerned to speed up the loan recovery process, if any, highlighting the importance of this key component in the successful and effective working of the corporation.
Minister of State for Social Welfare, Asiea Naqash directed the concerned officers to “organise awareness camps in rural and far-flung areas” to make the people aware about the various welfare schemes of the corporation.
She said the main motive of the corporation is to “work for socio-economical emancipation of under privileged section of the society” and stressed on effective implementation of the schemes, the handout added.