Srinagar: J&K Bank Chairman and Managing Director R K Chhibber today held an interaction with a Kashmir Youth Entrepreneurs Federation (KYEF) delegation led by its President Babar Chowdhary at Bank’s Corporate Headquarters.
Executive President Arun Gandotra and Special Secretary to the CMD Karanjit Singh were also present in the meeting.
Urging young entrepreneurs to be the agents of positivity, the CMD said, “Young entrepreneurs are our future. Be messengers of positivity. J&K Bank will always encourage and support aspiring entrepreneurs to realize their ambitions and dreams.”
The CMD said that young entrepreneurs, women in particular, have shown keen interest in recently launched schemes for them.
“In line with the LG’s directions, the bank created special desks for youth and women entrepreneurs at all its zonal offices/Business Units to counsel them and facilitate their commercial ventures. We have seen tremendous response from the young entrepreneurs. We have received as many 3,552 applications in the first five days out of which 529 cases have been disbursed and 1000 have been sanctioned,” the CMD said.
The CMD said that various recommendations from the working committee, of which he was a member of,were considered favorably by the UT of J&K government.
“The committee inter alia recommended that eligibility criteria for 5 % interest subvention should benefit maximum business accounts. The government of UT of J&K was considerate enough to devise the economic package in such a way that majority of business accounts would be eligible for that. The 5 % interest subvention is going to be a game changer and would go in a long way in revival of business in the UT,” he said.
KYEF President hailed the J&K Bank for its entrepreneur-friendly schemes saying, “Youth want to work in a meaningful way and they look upto J&K Bank for support and encouragement. J&K Bank CMD has been on forefront in making sure young entrepreneurs are encouraged and setting up of special desks for young entrepreneurs and women is a praiseworthy decision. Supervision of the progress by the CMD personally is a real booster for the aspiring entrepreneurs.”
The delegation also felicitated R K Chhibber for his extension as the CMD of J&K Bank.
The KYEF delegation included Head Women Wing Farkhanda, Joint Secretary Yasir Mufti, members Zubair Zargar, Rehan and Hilal Ahmad Bhat.