JKEDI approves Rs 2.27 Cr for 56 cases of self-employment

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Srinagar

Jammu and Kashmir Entrepreneurship Development Institute (JKEDI), on Saturday held its 75th Steering Committee under the Term Loan Scheme to grant approval to the cases of aspiring entrepreneurs.

JKEDI approves Rs 2.27 Cr for 56 cases of self-employment

The meeting was chaired by Director Jammu and Kashmir Entrepreneurship Development Institute, Tufail Matto. Chief Faculty JKEDI, Dr Majid Manzoor Khan and officers from the concerned verticals of the institute participated in the meeting as its members.

Fifty-Seven (57) cases of the candidates trained by the institute under Himayat Self Employment Scheme (HSES) were placed before the Steering Committee for its consideration and necessary approval. Out of these, 56 cases were approved for the soft loan facility under Term Loan scheme of National Minorities Development and Finance Corporation (NMDFC), Ministry of Minority Affairs (MoMA), Government of India. Pertinent to mention that of these approved cases, 50 belong to the newly formed Union Territory of Jammu and Kashmir while seven (07) cases are from Union Territory of Ladakh.

An amount of Rs. 2.27 Crore as appraised cost for these 56 cases of self-employment/entrepreneurship was approved by the Steering Committee, which includes a Term Loan component of Rs 88.46 lakh and Working Capital of Rs. 141 lakh approximately.

These cases were approved for activities like manufacturing of bakery, spices, non-woven carry bags, steel fabrication; establishment of DTP centres, diagnostic labs, general stores, shuttering houses, camping agencies and tent houses, distribution of FMCG, trading activities like sale of electric equipment, timber, ice creams, cosmetics, grocery; and sheep and dairy farming- undertaken by the candidates from different parts of Jammu & Kashmir and Ladakh.

During the meeting, Director JKEDI, Tufail Matto called for speedy disbursal of the soft loan in favour of the candidates whose cases have been approved after they complete the legal formalities, so that they are able to start their business ventures.

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