Last Updated on November 23, 2021 at 5:43 pm
On the 2nd day of her visit to Jammu & Kashmir, Union Finance & Corporate Affairs Minister Nirmala Sitharaman handed over sanction letters to 145 beneficiaries for Rs 306 crore of different banks which included sanction letters to different credit linked schemes like Pradhan Mantri Employment Generation Programme (PMEGP), MUDRA Scheme, Self-Help Groups (SHGs), Joint-Liability Groups (JLGs) etc during an event.
The Finance Minister also announced a number of new schemes and initiatives for Jammu & Kashmir which included launch of Tejasvini & Hausala schemes of J&K Bank, Shikhar & Shikara schemes of Punjab National Bank (PNB) and SIDBI cluster development fund for Rs. 200 crore. Tejasvini scheme focuses on providing financial assistance of Rs 5 lakh to girls between 18-35 years for starting their business.
Shikhar scheme focuses on meeting credit requirements up to Rs. 2 crore for hotel, tour & tourism industry. Under Shikara scheme credit up to Rs. 15 lakh for purchase/repair of Shikaras is provided in Kashmir valley.
For FY 2020-21, it was announced that NABARD for UT of Jammu & Kashmir is increasing its commitment under Rural Infrastructure Development Fund (RIDF) from Rs 787 crore to Rs 1,500 crore which will help in creation of rural infrastructure for faster economic growth.
To further accelerate economic growth, banks will also increase their ground level credit in Jammu & Kashmir for the previous year level of Rs. 14,735 crore to Rs. 16,000 crore in current Financial Year.
