Govt releases Rs 250 cr as Interest Subvention for revival of Business & Industry in J&K Lt Governor hands over cheque to J&K Bank
Excelsior Correspondent
JAMMU, May 6: Lieutenant Governor, Manoj Sinha today approved the further release of Rs 250 crore as Interest Subvention, part of economic package for revival of business and industry in J&K, and handed over a cheque of the amount to Jammu and Kashmir Bank as third instalment of the 5% Interest Subvention.
Arun Kumar Mehta, Financial Commissioner, Finance Department and RK Chhibber, Chairman and MD J&K Bank were present on the occasion.
Government of J&K had already released Rs 500 crore so far, and today another instalment of Rs 250 crore as 5% Interest Subvention was released as part of the overall package of Rs 1353 crore. The Interest Subvention has so far provided immense relief to 3.44 lakh borrowers in the current Covid-19 crisis.
JK Bank Gets Rs 250 Cr More For 2020 Interest Subvention
SRINAGAR: Lt Governor, Manoj Sinha approved the further release of Rs 250 crore as Interest Subvention, part of the economic package for revival of business and industry in J&K, and handed over a cheque of the said amount to Jammu and Kashmir Bank as the third instalment of the 5% Interest Subvention, an official spokesman in Jammu said
Lt Gov, Manoj Joshi handing over cheque of Rs 250 crore to J&K Bank as 3rd instalment of 5% Interest Subvention on May 6, 2021. Pic: DIPR
Arun Kumar Mehta, Financial Commissioner, Finance Department and Sh. RK Chhibber, Chairman and MD J&K Bank were present on the occasion.
A loan waiver rain and a State fiscal capacity drought
Updated:
Updated:
March 01, 2021 23:18 IST
In Tamil Nadu, politicians seem oblivious to the lack of fiscal space and the opportunity cost of expenditure profligacy
Share Article
AAA
In Tamil Nadu, politicians seem oblivious to the lack of fiscal space and the opportunity cost of expenditure profligacy
The Government of Tamil Nadu, in early February, announced a waiver for farm loans from cooperative credit societies to the extent of ₹12,100 crore. There is now a clamour to include the farmers’ loans from banks as well in this scheme and the Dravida Munnetra Kazhagam (DMK) has also promised to waive farm loans and jewel loans within certain limits.
Odisha CM appreciates banks, districts for making coordinated efforts to improve lending to priority sectors ANI | Updated: Feb 26, 2021 23:19 IST
Bhubaneshwar (Odisha) [India], February 26 (ANI): Odisha Chief Minister Naveen Patnaik on Friday appreciated the efforts of banks and districts for making coordinated efforts to improve lending to priority sectors. The banks and districts have done quite a commendable job in improving their performance in credit flow to Agriculture, Micro, Small and Medium Enterprises (MSMEs) and Self Help Group (SHG) sector. I congratulate all the bankers for achieving the financial target meant for the SHG sector well ahead of time, Patnaik said.
Lieutenant Governor Manoj Sinha
The Jammu and Kashmir government last week handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as the second instalment of 5 per cent Interest Subvention under Economic Package, as Covid-19 relief for the business sector.
Till date, around 3.41 lakh small and big business establishments have availed the benefits of the Interest Subvention. Highlighting the initiatives taken by the government for bringing reforms in the economic sector in J&K, the Lieutenant Governor Manoj Sinha said that an amount to the tune of Rs 264 crore was disbursed as financial assistance to 16,800 youth identified to become entrepreneurs under the