Mudra Scheme a golden opportunity for youth, says Dr Jitender Singh, appreciates J&K Bank

JAMMU: The policies and programmes of the Government of India are aimed at empowering the youth in the country by enabling them to be the job creators to become the foundation for the prosperity of the nation. The youth of J&K is highly talented and have shown their mettle by being toppers in the prestigious national level competitive examinations like the Civil services, IITs etc and they should take the lead in becoming the best entrepreneurs also by availing the benefits of the policies and programmes under MUDRA & other start Up schemes.

This was stated by the MoS (Independent Charge) PMO, Personnel, Public Grievances and Pension, Dr Jitender Singh, who was the Chief Guest on the occasion of Mudra Promotion Campaign in presence of Minister of State for Finance Ajay Nanda, Convener SLBC and Chairman J&K Bank Parvez Ahmed, A K Dogra Deputy Secretary DFS Govt. of India, A.K Mattoo Incharge Officer RBI, Vagish Chander &S S Sehgal Executive presidents J&K Bank and other senior functionaries of JK Bank here at the convention centre Canal road Jammu

“The schemes like Mudra Finance were inspired by the idea of employability and skill development rather than seeking employment. Mudra like schemes reflects the sensitivity of the government towards the need for empowering the poor to eliminate poverty from the country. The youth have to assert their talent by showing a culture of hard work rather than playing victim of the circumstances,” Dr Jitender said.

He further said, “The government is effectively leveraging the technology to eliminate the culture of corruption and middlemen prevalent in the country especially in schemes like DBT, MGNREGA meant for the benefit of the poor in the country”. While exhorting the state government to promote ease of doing business he appreciated the role of banks especially J&K Bank in proactively fostering a culture of entrepreneurship in the state of Jammu and Kashmir.”

A female entrepreneur getting her loan under MUDRA in Jammu

Meanwhile, Ajay Nanda Minister of state for Finance urged upon the banks operating in the state to meet the target of 2400 Cr and 118000 beneficiaries under the Mudra scheme in the state. He rated the performance achieved by the banks by way of disbursing 1000 Cr to 41000 beneficiaries as satisfactory. Mr. Nanda also expected the banks to fast track penetration of digital channels in the state by providing last mile beneficiary under the Financial inclusion programme and schemes like DBT.

Earlier, J&K Bank Chairman & CEO Parvez Ahmed, who is also Convener SLBC, before giving a detailed overview of the performance of the banks operating in the state regarding MUDRA Finance Scheme acknowledged the continuous patronage of Dr Jitender Singh in the launch and promotion of various initiatives of the state and central government through J&K bank.

He said, “MUDRA is an ambitious project launched by the GOI in the year 2015 with an aim to address the various issues inhibiting the flow of credit to micro industrial units in a holistic manner. It is one of the very progressive initiatives aimed at addressing the issue of skill development and unemployment in the country. It targets to finance around 6 Crore entrepreneurs through banks, NBFC’s and other financial institutions. Our bank and likewise the entire banking fraternity have put in all out efforts towards successful implementation of the scheme and are committed towards ushering financial empowerment.”

He reiterated that the focus of J&K bank is on developing entrepreneurial environment in J&K which creates a win-win situation for the people as well as the Bank the prosperity of the bank is intertwined to the prosperity of people. This he said also fulfilled the Bank’s vision of catalysing economic transformation and capitalising on the growth of business in the state.

“ Under the crucial components of financial inclusion and credit linkage, banks are actively providing vocational training and hand holding through RSETI’s where more than 40 thousand candidates have been imparted entrepreneurship development training  thought  since inception out of which 60 percent candidates have settled either through bank or self-finance. ”, he added.

The banks he informed are focusedly working on seeding of Aadhar & Mobile numbers where the progress of 41% and 71 % has been achieved till date which was expected to reach the 100% levels very soon.

Parvez Ahmed declared that as the Convener SLBC, I assure all the stake holders that despite local constraints, we’ll work in close coordination with all stakeholders to ensure the implementation of various schemes aimed at entrepreneurship development, employment generation, poverty alleviation and economic prosperity and progress of the country as a whole and J&K state in particular.

In his welcome address Mission Director PMJDY Shahid Saleem described the Pradhan Mantri Mudra Yojna as the gateway to the prosperous future of the country.

A promotional and inspirational short documentary was also screened on the occasion depicting the Stand-Up India and Mudra schemes. Some of the beneficiaries also narrated their success stories after availing the loans under the MUDRA scheme.  A demonstrative transaction for a small purchase was also effected on the occasion by the JK bank technology team through BHIM App, which is a UPI application for electronic fund transfer.

Executive President Vagish Chander concluded the event with Vote of Thanks.

Thereafter, the Guest of Honour Ajay Nanda along with the Chairman J&K Bank and other dignitaries visited the stalls, bustling with visitors, which were established there by the participating banks, insurance companies and other agencies including UIDAI, SIDBI, NPCI, JKEDI, SMVDU TBIC, Tourism, Horticulture and Handloom Departments. The dignitaries showed keen interest in the various initiatives of the different banks and departments who had put up the stall for the benefit of public.


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