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Lt Governor hands over cheque of Rs 250 crore to J&K Bank as second installment of 5% Interest Subvention

Lieutenant Governor, Manoj Sinha today handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as second installment of 5% Interest Subvention under Economic Package, as a relief for the business sector in J&K.

While interacting with the media persons on the occasion, the Lt Governor observed that around 3.41 lakh small and big businessmen and business establishments have availed of the benefits of the Interest Subvention.

We will continue to release the Interest Subvention part as and when we receive the request, the Lt Governor added.

Highlighting the initiatives taken by the government for bringing reforms in the economic sector in J&K, the Lt Governor said that an amount to the tune of Rs 264 crore has been disbursed as financial assistance to 16,800 youth identified to become entrepreneurs under the Back to Village and My Town My Pride programmes, and termed the initiative as Bank’s home delivery of services to the aspiring entrepreneurs.

Replying to the queries of the media persons, the Lt Governor observed that investors from across the globe are eyeing J&K as their preferred investment destination.

With a ready land bank and plethora of opportunities waiting for them, the investors will find J&K as a promising and lucrative destination for their investments. The Rs 28,400 cr New Industrial Development Scheme, will certainly boost the morale of entrepreneurs and investors, he said.

In the Healthcare sector, the Lt Governor said that all efforts would be made to bring the big players in the sector to the UT.

Sh. Arun Kumar Mehta, Financial Commissioner, Finance Department; Sh. RK Chhibber, Chairman and MD J&K Bank and Sh. Sunit Kumar, Zonal Head, J&K Bank were present on the occasion.

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