J&K Bank conducted a financial literacy and credit counseling programme at Rural Self Employment and Training Institute (RSETI), Sopore. Thirty-five trainees mostly females from across Sopore participated in the programme, a company statement said.
Financial Literacy and Credit Counseling (FLCC) Centre, Baramulla organized the programme during the ‘Entrepreneurship Development Programme’ conducted by the RSETI.
Informing the participants about the purpose of RSETI’s and FLCC Centers at District Facilitator FLCC said, “FLCC Centers are there to provide basic financial literacy to the people and counsel them about credit and its related issues. The role of RSETI’s is to develop skills and build capacities of youth to help them establish their businesses and increase their family earnings.”
“Besides explaining to them in detail the benefits of seeking financial support through various loan schemes of the banks instead of money lenders, he also spoke about saving plans of banks like savings bank account, recurring account, Mehandi deposit and fixed investment plans,” the statement said.
“He discussed at length pre sanction, post sanction and post disbursement formalities required to be completed by the entrepreneurs for establishment of their units. He urged them to work harder to ensure the repayment of installments to the Bank and for earning of livelihood.”
Certain clarifications were sought by the participants regarding various schemes which were addressed on spot by the facilitator, the statement added.