SRINAGAR: Marking one year of the Jammu and Kashmir Government’s flagship Mission YUVA programme, JK Bank on Wednesday organised a Union Territory-wide Mega Disbursal Day, providing financial assistance to 2,828 enterprises in a single day to promote entrepreneurship, self-employment and employment generation across Jammu and Kashmir.
The UT-wide credit drive concluded with Managing Director and Chief Executive Officer Amitava Chatterjee virtually launching the mega disbursal campaign from the Bank’s Corporate Headquarters in the presence of senior officers. Divisional, Zonal and Cluster Heads from both Jammu and Kashmir joined the programme through virtual mode.
The Bank said it has sanctioned more than 28,400 cases involving financial assistance exceeding Rs 1,300 crore since the launch of Mission YUVA, reaffirming its role as a key lending partner under the flagship employment initiative. During Wednesday’s special drive alone, loans were disbursed in 2,828 cases, adding to the cumulative assistance extended under the scheme.
Congratulating employees on the successful completion of the programme’s first year, Chatterjee said the achievements under Mission YUVA had further strengthened the Bank’s partnership with the Jammu and Kashmir Government in promoting entrepreneurship and generating employment opportunities.
Reviewing the roadmap for the programme’s second year, he said the focus should now shift from the number of loan disbursements to ensuring that enterprises established under the scheme become sustainable, generate regular income and create livelihood opportunities.
He set a target of increasing the cumulative number of Mission YUVA loan disbursements to 50,000 by the end of the current financial year and directed operational heads to closely monitor the utilisation of funds while continuing to guide beneficiaries.
General Manager (RAM) Rakesh Magotra reviewed the Bank’s performance under Mission YUVA and emphasised the need for continuous monitoring of sanctioned cases, handholding of entrepreneurs and financial discipline to ensure the long-term sustainability of businesses established under the programme.
Mission Director, Mission YUVA, Harvinder Singh, described J&K Bank as the principal implementation partner of the flagship programme and commended its performance over the past year.
He said the Bank’s timely credit support and guidance to entrepreneurs had played a significant role in advancing entrepreneurship, employment generation and inclusive economic growth across Jammu and Kashmir.
