J&K Bank Disburses Rs 68 Lac Among Budding Entrepreneurs

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KL Report

SRINAGAR

A credit linkage programme, first of its kind in J&K state, was organized Tuesday by J&K Bank RSETI Ganderbal. An aggregate credit of Rs 68 lacs was disbursed among one hundred prospective entrepreneurs, mostly women, at a function presided over by Sarmad Hafeez, District Development Commissioner, Ganderbal.

Among others present on the occasion included Nayeemullah, Bank’s President and Nodal Officer for RSETIs, A.K Pandita, Bank’s Vice President, Viqarul Mulk Nazki, Bank’s Vice-President and Zonal Head for Kashmir Central, Abdul Hamid Banday, Bank’s Cluster Head for Ganderbal, Altaf H. Mir, Director, RSETI Ganderbal.The function also witnessed presence of scores of excited pass-outs of the RSETI Ganderbal.

Speaking on the occasion, Sarmad Hafeez lauded the J&K Bank’s role for taking this initiative. “We need to understand that there is a very little scope for government jobs in J&K as government exchequer is already overburdened. However, there is a lot we can do to help youth take up self-employment ventures”, he said, adding, “J&K Bank’s RSETI initiative is a step in right direction. Together with government sponsored schemes, J&K Bank, through its RSETI initiative, can help youth in achieving self-reliance and in the process can contribute to rural economy”.

Hailing the multi-pronged and comprehensive approach of the RSETIs, DDC said that pre-training, training and post-training assistance is what can ensure productive end results of the initiative.

In his address Nayeemullah, Bank’s President and Nodal Officer for J&K Bank RSETIs described the functioning of RSETIs as a comprehensively inclusiveand exclusive approach that first identifies the potential entrepreners especially region specific handicrafts and other art andcaft forms, then train them and later link them to formal financial system through hasle-free  credit. “The purpose is to nurture the idea of entrepreneurship by creating self-employment opportunities for the rural youth which in turn will facilitate rural economic development”, he said.

Ashok Kumar Pandita, Bank’s Vice-President and administrative Officer for J&K Bank RSETIs, while speaking on the occasion gave details of the various training courses and interest subsidies offered by the government on various activities under different ponsored schemes. He expressed his delight to see RSETI Ganderbal moving to Credit linkage stage. “I feel delighted today becauseit seems that the basic purpose of establishing RSETIs is being served. Connecting training pass-outs to formal financing channels ls what RSETI is meant for and it is what is needed to foster the idea of enterpreneurship and create avenues for individual and collective development”, he said.

Altaf H. Mir, Director RSETI, Ganderbal gave a detailed overview of the evolution, functioning and achievements of RSETIs. “RSETI is a movement and a mission. The objective is to identify, orient, motivate, train and assist the rural youth to take up self employment ventures as an alternative career”, he said.

The function culminated with the vote of thanks presented by Abdul Hamid Khan, Bank’s Cluster Head for Gandarbal.

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