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| ‘Credit Guarantee Scheme for micro & small Enterprises’ | | |  EARLY TIMES REPORT
Srinagar, July 7: J&K Bank organized a workshop on ‘Credit Guarantee Scheme for Micro and Small Enterprises’ in J&K State in collaboration with Small Industries Development Bank of India (SIDBI) and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Umang Narola Commissioner Industries & Commerce Deptt J&K Govt. inaugurated the workshop in presence of G M Sahibzada President J&K Bank, C V K D Prabhu CGTMSE (Mumbai) and Neeraj Shrivastava AGM SIDBI here at SKICC on July 6.
The basic objective of the workshop was to bring various stake holders in the CGTMSE scheme face-t-face with people from industry and explain to them all the features and benefits that the scheme holds for betterment of industry.
The workshop was attended by representatives of Kashmir Chamber of Commerce and Industry (KCCI), Federation Chamber of Industry Kashmir (FCIK) besides entrepreneurs, bankers, state officials, representatives of the RBI, NABARD and other related departments and agencies.
Speaking at his inaugural address, Umang Narola congratulated J&K Bank for organizing the workshop to bring in clarity into the concept and actual benefits of the CGTMSE scheme for awareness and utility of people especially from industry.
He said, “Credit is the life-line of any and every industry. Here in the state such clarity about the CGTMSE scheme assumes more importance for majority of industry units fall under MSME sector.”
Prabhu from CGTMSE, who had come all along from Mumbai, gave a detailed presentation about the scheme and explained the benefits of it for the bankers and borrowers.
Prabhu said, “The scheme has been devised to cement the banker-borrower relationship in a way that both the banker and borrower realize their objectives with relative ease and efficiency.
“Through this scheme the bankers can comfort themselves with the requisite security of their capital and the borrowers, especially entrepreneurs who set out to start their own business with confidence and energy, also can avail collateral free loans”, he added.
Present on the occasion Bilal Ahmad Bhat Joint Director Industries and Commerce Department J&K Govt. apprised the audience about various incentives that the department provides to encourage entrepreneurs to come forward and avail the benefits to help industry grow and develop across the state.
The floor was then thrown open for panel discussion followed by healthy interactions between the people from industry and expert panel comprising of CGTMSE, J&K Bank and other govt. officials.
People from industry hailed the efforts of the bank to raise awareness about such beneficial schemes for better and swifter financing to various sectors of industry.
M S Wani Vice President (Priority Sector) J&K Bank moderated the session and Neeraj presented the vote of thanks.
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