SRINAGAR: Jammu and Kashmir Bank has disbursed financial assistance exceeding Rs 1,300 crore to over 28,400 enterprises since the inception of the Jammu and Kashmir Government’s flagship Mission YUVA programme. The bank marked the one-year anniversary of the initiative with a Union Territory-wide Mega Disbursal Day, providing credit to 2,828 enterprises in a single day to foster entrepreneurship and generate employment opportunities across the region.
Information was available with The Chenab Times that the credit drive concluded with the virtual launch of the campaign from the Bank’s Corporate Headquarters by Managing Director and Chief Executive Officer Amitava Chatterjee. Senior bank officials attended the event, with Divisional, Zonal, and Cluster Heads from both the Jammu and Kashmir divisions joining the proceedings virtually.
The bank reported that since the launch of Mission YUVA, more than 28,400 cases involving financial assistance totalling over Rs 1,300 crore have been sanctioned. This reaffirms the bank’s position as a crucial lending partner for the government’s employment initiative. The special disbursal drive held recently saw loans disbursed in 2,828 individual cases, contributing to the overall assistance provided under the scheme.
Amitava Chatterjee congratulated the bank’s employees for the successful completion of the program’s first year. He stated that the achievements under Mission YUVA have further strengthened the bank’s collaboration with the Jammu and Kashmir Government in its efforts to promote entrepreneurship and create avenues for employment.
Looking ahead, Chatterjee outlined the roadmap for the programme’s second year, emphasizing a shift in focus from merely the volume of loan disbursements to ensuring the sustainability of enterprises established under the scheme. The goal is to enable these businesses to generate regular income and create stable livelihood opportunities for individuals.
He set an ambitious target of increasing the cumulative number of Mission YUVA loan disbursements to 50,000 by the end of the current financial year. To achieve this, operational heads were directed to closely monitor the utilization of funds and continue providing guidance to the beneficiaries.
General Manager (RAM) Rakesh Magotra reviewed the bank’s performance under Mission YUVA. He highlighted the necessity of continuous monitoring of sanctioned cases, providing hands-on support to entrepreneurs, and maintaining financial discipline to guarantee the long-term viability of businesses launched through the programme.
Harvinder Singh, Mission Director for Mission YUVA, identified J&K Bank as the primary implementation partner for the flagship programme and lauded its performance over the past year. He acknowledged that the bank’s timely credit support and guidance have been instrumental in advancing entrepreneurship, driving employment generation, and fostering inclusive economic growth throughout Jammu and Kashmir.
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The Chenab Times News Desk
