Excelsior Correspondent
SRINAGAR, July 30: In continuation of its pursuit to enhance SME credit and to make its schemes for Small and Medium Enterprises attractive, Punjab National Bank disbursed loan of Rs 4.91 crore to 118 beneficiaries in the State today.
A function was organized here where Mohammad Latif Mir, Deputy General Manager, Circle Head J&K Operations, distributed loan to 65 beneficiaries with a credit outlay of Rs 1.15 crore.
Exhorting youth to take advantage of various banking schemes for their self employment, Mir informed that SME sector in India has fast emerged as one of the major drivers of the economy contributing 40 per cent in the manufacturing sector.
In Jammu, a function was also organized at JKEDI, Udyog Bhawan today which was presided over by Harnek Singh, Assistant General Manager, Circle Office Jammu.
At this function loans under different segments of SME like in Transport, Retail Trade, Artisan, Service Sectors worth Rs 3.55 crore were disbursed to 46 beneficiaries.
Addressing the gathering, Singh said that bank has adopted aggressive and innovative strategies to make SME schemes customer-centric by evolving a robust Credit delivery system, he added. Mr. Singh further informed that the bank has tailored its various SME schemes to suit requirements of all types of customers at competitive interest rates and customers can avail hassle free loans up to Rs. 1 crore without any third party guarantee or collateral security by simply paying a token guarantee fee/service charges for coverage under CGTMSE.
In Samba district, SME loans amounting to Rs 21 lakh were distributed to 7 beneficiaries.
SP Sharma, Chief Manager Circle Office Jammu presented vote of thanks.
RVS Jasrotia, Chief Manager Circle office, SS Chib, District Coordinator PNB, large number of beneficiaries and staff members of the bank were present at the function.
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