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| JKEDI being nominated for securing loans from NMDFC | | | Early Times Report
Jammu, Jan 6- The state Government has decided to nominate JK EDI an additional state channel-sing agency of National Minorities Development and Finance Corporation (NMDFC) for providing loans, credit facility to the entrepreneurs motivated and trained and promoted by the Institute.
Following the government plan of building complete synergy in different self-employment schemes it was decided to engage agencies for advancing loans and other assistance to the first generation entrepreneurs so that they were benefited by the scheme. In this connection state Government has approached the NMDFC, a Government of India undertaking under the ministry of minority Affairs which provides loans and credit facilities to the first generation entrepreneurs belonging to the minorities on three to six per cent interest rates.
Earlier, the NMDFC had nominated Jammu and Kashmir Women Development Corporation and Jammu and Kashmir Scheduled Castes and Scheduled Tribes Corporation as the channel sing agencies in the state. However, the Scheduled Castes and Scheduled Tribes Corporation had not been able to lift any money from the NMDFC for the last five years thereby limiting the opportunities available for the prospective entrepreneurs.
Consequently the Government decided to nominate JKEDI an additional state channelizing agency of NMDF. The JKEDI would be asked to lift as much loan as possible from the NMDFC which could be released in favor of first generation entrepreneurs for setting up industrial units in Jammu and Kashmir. The state Government has already conveyed to the unemployed youth that despite the new employment policy the scope for absorbing all the unemployed youths in Government departments was very limited. Therefore, the Government has suggested to the educated unemployed youth to avail of various facilities being provided by the Government under self-employment schemes. If the unemployed youths avail these facilities it could
generate additional jobs and enhance the industrial production within the state.
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