Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) organized a day-long entrepreneurship awareness-cum loan fair at Bandipora on Monday, an Institute statement said.
“Nearly 400 participants, including sarpanchs, panches, ASHAs, students, senior citizens and educated unemployed youth attended the program under JKEDI’s awareness campaign regarding the term loan scheme the institute implements under the National Minorities Development and Finance Corporation (NMDFC),” the statement said.
A detailed overview of all the schemes implemented by JKEDI was provided to the participants with special discussion on NMDFC.
Additional Deputy Commissioner, Bandipora, N A Baba, inaugurated the programme while District Nodal Officer, JKEDI Waseem Raja conducted the proceedings of the day-long event. District Officers from almost all allied departments and principals, Heads of Departments of educational institutes attended the programme, it informed.
“The institute offers three schemes including NMDFC’s term loan under which financial assistance is given to aspiring entrepreneurs at six percent per annum simple interest rate,” it said.
Another is Seed Capital Fund Scheme (SCFS), which forms a major component of government’s flagship SK Employment and Welfare Program for Youth (SKEWPY) in the State.
“Under the scheme, 35 percent of the total project cost is provided by JKEDI as seed money and the rest is financed by JK Bank at the concessional rates of interest. Under Youth Start-Up Scheme (YSLS), soft loans at six percent simple interest are provided to educated unemployed youth to start their entrepreneurial ventures,” the statement further said.