J&K Bank opens single window clearance system for entrepreneurs

Srinagar—In line with the directions of J&K Chief Minister Mehbooba Mufti to facilitate hassle free support to the entrepreneurs and ensure speedy disposal of projects through single window clearance system, J&K Bank today dedicated a full-fledged Business Unit and a Satellite office of Sher-i-Kashmir Employment & Welfare Programme for Youth (SKEWPY) Department at JKEDI Complex at Pampore.

Chairman and CEO, Parvez Ahmed alongwith senior management of the bank took stock of overall functioning of the Business Unit and Satellite SKEWPY office.

Chairman emphasized on leveraging the facilities to serve and support the young entrepreneurs in the establishment of their ventures and startup companies.

“Entrepreneurial spirit presents not only solution to problems like employment, which are complicated by the certain conditions of this place; but is a guiding light towards the future world that will be determined more by the pace of change than the change itself. If we are to make successful transition into that future, risk-taking has to be an elemental part of our attitude”, said Parvez Ahmed.

“In their quest for a better and secure future, J&K Bank shall always extend its complete support and goodwill for the youth of J&K. The purpose of establishing SKEWPY satellite office at EDI complex is to facilitate our budding entrepreneurs further and do away with hassles, if any, in the process of sanctioning and disbursement of their cases”, he added.

Elaborating on the bank’s performance under the Government’s flagship SKEWPY scheme, he said, “Under the Seed Capital Fund scheme, out of the 10005 cases recommended to JKEDI for sanction of Seed Capital, we have already sanctioned and disbursed 4380 cases with financial implications of Rs 316 Cr. Though we don’t have any pendency at our side, yet we will further expedite the process of sanctioning and disbursement of the loan cases under SKEWPY.”

Notably, the satellite office at JKEDI complex will appraise the SKEWPY cases in real time and will help in speedy sanction and final disbursement of the credit facility to entrepreneurs.