No Result
View All Result
  • MISSION STATEMENT
  • CONTACT
  • BE PART OF QUALITY JOURNALISM
  • ARCHIVE
Sunday, September 24, 2023
E-Paper
Kashmir Observer
13 °c
Srinagar
  • NEWSLIVE
    • TOP STORIES
    • LOCAL
    • CITY
    • REGIONAL
    • WORLD
  • IN DEPTH
    • FEATURE
    • HEADS & TAILS
    • OPINION
      • OPINION
      • EDITORIAL
      • KO ANALYSIS
      • LETTERS TO EDITOR
    • SPECIAL REPORT
    • INTERVIEW
    • REVIEW
      • BOOKS
    • LONGFORM
  • BUSINESS
    • BUSINESS NEWS
    • MARKET
    • ENERGY
    • HORTICULTURE
    • HANDICRAFTS
    • CARS & BIKES
    • STARTUP KASHMIR
  • SPORT
    • FOOTBAL
    • CRICKET
    • ADVENTURE SPORTS
    • GOLF
    • ATHLETICS
    • SKIING
    • OTHER SPORTS
  • MEDIA
  • PEOPLE
  • CULTURE
    • KHYEN CHYEN
    • ARTS
    • CRAFTS
    • FESTIVALS
    • THEATER
    • LANGAUGE
  • TRAVEL
    • HOUSEBOATS
    • HOTELS
    • ANGLING
    • CAMPING
    • DESTINATION FOCUS
  • SOCIETY
    • EDUCATION
    • HEADS & TAILS
    • GENDER
    • YOUTH
    • CHILD WELFARE
  • LITERATURE
    • SHORT STORY
    • BOOKS
    • NARRATIVE
  • CINEMA
    • CINEMA & TV
  • ePAPERS
    • BAZAAR OBSERVER
    • YOUNG KASHMIR
    • MIZRAB
  • NEWSLIVE
    • TOP STORIES
    • LOCAL
    • CITY
    • REGIONAL
    • WORLD
  • IN DEPTH
    • FEATURE
    • HEADS & TAILS
    • OPINION
      • OPINION
      • EDITORIAL
      • KO ANALYSIS
      • LETTERS TO EDITOR
    • SPECIAL REPORT
    • INTERVIEW
    • REVIEW
      • BOOKS
    • LONGFORM
  • BUSINESS
    • BUSINESS NEWS
    • MARKET
    • ENERGY
    • HORTICULTURE
    • HANDICRAFTS
    • CARS & BIKES
    • STARTUP KASHMIR
  • SPORT
    • FOOTBAL
    • CRICKET
    • ADVENTURE SPORTS
    • GOLF
    • ATHLETICS
    • SKIING
    • OTHER SPORTS
  • MEDIA
  • PEOPLE
  • CULTURE
    • KHYEN CHYEN
    • ARTS
    • CRAFTS
    • FESTIVALS
    • THEATER
    • LANGAUGE
  • TRAVEL
    • HOUSEBOATS
    • HOTELS
    • ANGLING
    • CAMPING
    • DESTINATION FOCUS
  • SOCIETY
    • EDUCATION
    • HEADS & TAILS
    • GENDER
    • YOUTH
    • CHILD WELFARE
  • LITERATURE
    • SHORT STORY
    • BOOKS
    • NARRATIVE
  • CINEMA
    • CINEMA & TV
  • ePAPERS
    • BAZAAR OBSERVER
    • YOUNG KASHMIR
    • MIZRAB
No Result
View All Result
Kashmir Observer
No Result
View All Result
Home BUSINESS BUSINESS NEWS

5% Interest Subvention A Game-Changer: J&K Bank CMD

by Observer News Service
October 28, 2020
A A
13
SHARES
653
VIEWS

‘More than 2 lac J&K Bank borrowers to benefit from it’

Srinagar: Hailing the J&K government, under the leadership of Lieutenant Governor Manoj Sinha, for its timely intervention through an economic package for the business community of the Union Territory, J&K Bank Chairman and Managing Director R K Chhibber on Wednesday asserted that the bank will ensure that all relief measures, including the interest subvention is promptly passed on to all eligible customers, in a hassle free manner.

ADVERTISEMENT

He stated this after receiving a cheque of Rs 250 crore from Lieutenant Governor J&K UT Manoj Sinha as first instalment of the interest subvention during the grand function held at Raj Bhavan here to mark the success of phase III of the UT Government’s financial outreach to youth and women entrepreneurs during its flagship program ‘Back to Village’.

Terming the J&K Government’s Rs. 1350 Cr financial package as a game-changing step to revive the economy of the region, the CMD said that 5% interest subvention for the businesses of the UT was a historic decision, depicting the strong determination of UT Government for the overall welfare of the business community.

Read Also

Kashmir Valley Records 700% Rise in Foreign Tourist Arrivals Post G20 Meet

India Blasts Pak For Raking Up Kashmir At UN

“On ground, it means that the traders and businessmen whose debt serviceability has been impacted by the recent economic disruption shall get a shot in their arm to revive their businesses by effectively managing their liabilities.  The decision, in nutshell, shall lessen the hardships faced by the traders and business community to a great extent”, he said.

Outlining the benefits of interest subvention for J&K Bank borrowers, the CMD stated, “It is going to benefit more than two lac borrowers of the bank. It will also result in regularization/up gradation of the some of the business accounts which have been under stress since 2019 followed by the Covid-19 pandemic.”

Giving an overview of the bank’s performance during the B2V3 program which he called as festival of development, the CMD said that the bank has garnered around 15389 loan cases from entrepreneurs during the programme and sanctioned around 10828 cases within a small span of 11 to 13 days during two important government programs of ‘Back to Village – 3’ and ‘My Town My Pride’.

“There was an unprecedented co-ordination between the government functionaries and bankers during the recently concluded ‘Back to Village-III’ and ‘My Town My Pride’ Programs and the role played by our staff, as counsellor and guide to the youth, has resulted in expeditious sanction of loan cases for early initiation of their ventures”, he said.

Follow this link to join our WhatsApp group: Join Now

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.

ACT NOW
MONTHLYRs 100
YEARLYRs 1000
LIFETIMERs 10000

CLICK FOR DETAILS

Share5Tweet3SendShare1ShareSend
Previous Post

‘Pied Piper’ Sarjan Barkati Released After Four Years

Next Post

Govt Appoints 2 Media Consultants To J&K Lt Governor

Observer News Service

Observer News Service

Related Posts

Kashmir Valley Records 700% Rise in Foreign Tourist Arrivals Post G20 Meet
BUSINESS

Kashmir Valley Records 700% Rise in Foreign Tourist Arrivals Post G20 Meet

India Blasts Pak For Raking Up Kashmir At UN
TOP STORIES

India Blasts Pak For Raking Up Kashmir At UN

Two Doctors Terminated in J&K Over ‘Unauthorised Absence’
TOP STORIES

Two Doctors Terminated in J&K Over ‘Unauthorised Absence’

PM Gives Credit To Women For Passage Of Women's Reservation Bill
TOP STORIES

PM Gives Credit To Women For Passage Of Women’s Reservation Bill

BJP Ready For J&K Assembly Polls: Jitendra Singh
TOP STORIES

BJP Ready For J&K Assembly Polls: Jitendra Singh

10 Arrested For Trying To Vitiate Peaceful Atmosphere Outside Jamia Masjid: Police
CITY

10 Arrested For Trying To Vitiate Peaceful Atmosphere Outside Jamia Masjid: Police

Next Post
Wrong Decisions Post-47 Created Resentment Among Kashmiris: LG

Govt Appoints 2 Media Consultants To J&K Lt Governor

COVID-19 Claims 6th Victim; 2 Pregnant Women Among 42 Test Positive

4 More Corona Deaths In J&K, Toll 1456

Please login to join discussion

Pages

  • ABOUT US
  • ADVERTISE IN KO
  • ARCHIVE
  • BE PART OF QUALITY JOURNALISM
  • CONTACT
  • CONTRIBUTORS
  • INTERNSHIPS AT OBSERVER
  • JOBS@KO
  • KO – Homepage
  • MISSION STATEMENT
  • POLICIES
    • COMMENTING GUIDELINES
    • COOKIE POLICY
    • DISCLAIMER
    • PRIVACY POLICY
    • TERMS
  • Refund Policy
  • Team

SEARCH IN ARCHIVE

No Result
View All Result

FOLLOW US

About Us

The media in Kashmir, comprising a robust English and vernacular press has a particularly unenviable job to do. The problems faced by it are both universal to the conflict situations and unique to the region. Read More

Advertising

For Advertising on various Kashmir Observer platforms
contact

[email protected]
+91-194-2502327; +91-1947969705

© 1997 -2023 | KASHMIR OBSERVER LLP

No Result
View All Result
  • NEWS
    • TOP STORIES
    • LOCAL
    • CITY
    • REGIONAL
    • WORLD
  • IN DEPTH
    • FEATURE
    • HEADS & TAILS
    • OPINION
      • OPINION
      • EDITORIAL
      • KO ANALYSIS
      • LETTERS TO EDITOR
    • SPECIAL REPORT
    • INTERVIEW
    • REVIEW
      • BOOKS
    • LONGFORM
  • BUSINESS
    • BUSINESS NEWS
    • MARKET
    • ENERGY
    • HORTICULTURE
    • HANDICRAFTS
    • CARS & BIKES
    • STARTUP KASHMIR
  • SPORT
    • FOOTBAL
    • CRICKET
    • ADVENTURE SPORTS
    • GOLF
    • ATHLETICS
    • SKIING
    • OTHER SPORTS
  • MEDIA
  • PEOPLE
  • CULTURE
    • KHYEN CHYEN
    • ARTS
    • CRAFTS
    • FESTIVALS
    • THEATER
    • LANGAUGE
  • TRAVEL
    • HOUSEBOATS
    • HOTELS
    • ANGLING
    • CAMPING
    • DESTINATION FOCUS
  • SOCIETY
    • EDUCATION
    • HEADS & TAILS
    • GENDER
    • YOUTH
    • CHILD WELFARE
  • LITERATURE
    • SHORT STORY
    • BOOKS
    • NARRATIVE
  • CINEMA
    • CINEMA & TV
  • ePAPERS
    • BAZAAR OBSERVER
    • YOUNG KASHMIR
    • MIZRAB

© 1997 -2023 | KASHMIR OBSERVER LLP