SRINAGAR: In alignment with the Union Ministry of Finance’s Department of Financial Services (DFS) initiative, the Jammu and Kashmir Union Territory Level Bankers’ Committee (UTLBC) organised a dedicated MSME cluster meet focused on the cricket bat manufacturing industry in Anantnag. Held at DPS Sangam, the event was part of a national DFS programme, involving 195 MSME clusters across India, with the Union Finance Minister Nirmala Sitharaman addressing participants virtually from Bengaluru, alongside Minister of State for Finance Pankaj Chaudhary, and Minister of State for MSME Sushri Shobha Karandlaje. Union MSME Minister Jitan Ram Manjhi joined via video conferencing.
During her address, Sitharaman emphasised the government’s commitment to ensuring no state or MSME is left behind, recalling support extended to MSMEs through the Guaranteed Emergency Credit Line (GECL) during the COVID-19 pandemic. She urged public sector banks to enhance MSME lending and strive for robust growth.
In Anantnag, UTLBC General Manager Syed Rais Maqbool presided over the event, which was attended by other senior banking officials and representatives from the cricket bat manufacturing sector. Maqbool highlighted banks’ commitment to supporting the MSME sector, which aligns with the government’s vision for self-sufficiency and employment generation within the industry.
“All banks, including Jammu and Kashmir Bank, are actively expanding their MSME credit portfolios,” Maqbool stated, adding that Jammu and Kashmir Bank would lead efforts to meet government-set growth targets for MSMEs, as underscored by the Finance Minister.
Representatives from the cricket bat manufacturing industry welcomed the initiative, expressing optimism about the support provided by the government and the banks. They emphasised that such programmes would significantly strengthen the sector’s growth potential, enhance market reach, and underscore its importance to local and national economies.
The Union Government’s coordinated efforts with banking institutions aim to boost the MSME sector, which is integral to local communities and contributes substantially to the broader Indian economy.
