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| SC/ST Corporation’s share capital enhanced to Rs.30 cr | | Board releases 17 installments of COLA | | Early Times Reporter
Jammu | Mar 27
Board of Directors of State SC/ST and OBC Corporation enhanced share capital of the Corporation from Rs. 20 crore to Rs. 30 crore giving further fillip to its wide ranging activities.
The Board which met here today under the chairmanship of Social Welfare Minister Abdul Gani Vakil also released 17 installments of COLA in favour of its employees which would be paid to them prospectively from April 1, 2007.
The meeting, among others was, attended by Minister of State for Social Welfare G. M. Saroori, Principal Secretary Planning Iqbal Khanday, Principal Secretary Social Welfare R.K. Jirath, Commission/Secretary Finance B.B.Viyas, Managing Director V. C. Sharma and Director Social Welfare Jammu Satish Nehru.
In another significant decision, the meeting approved enhancement of subsidy component from Rs. 10,000 to Rs. 25,000 per beneficiary/ unit under SCA to SCP and STP. Subsidy component for other backward classes has also been raised from Rs 3,000 to Rs 10,000.
Managing Director of the Corporation has been asked to prepare proposal for securing additional grants from the government for the purpose.
In a bid to improve financial health of the corporation, the Board agreed in principle to provide budgetary support to the corporation in a phased manner. It was also directed to open up district offices of the corporation in all the newly created districts.
Under Bank Tie-up scheme, an action plan envisaging establishment of 1460 income generating units, with the involvement of subsidy component worth Rs.1.17 crore for 2008-09 was also approved. Likewise, action plan conceiving setting up of 850 income generating units under direct financing schemes for the next fiscal was also given nod.
The Board, which had a word of praise for the management for effecting improvement on the recovery front to 52 percent, urged for working out a more effective strategy to achieve 100 percent success.
Addressing the meeting, the Minister called for provision of incentives for the employees involved in effecting recoveries. He said officials showing extraordinary performance on loaning, recovery and monitoring parameters need to be given out of turn promotions.
Vakil also stressed for intensifying awareness campaign in remote and far off areas to promote entrepreneur culture in countryside also. For the purpose, he directed for roping in local media besides Doordarshan and Radio Kashmir and Jammu. |
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