Excelsior Correspondent
JAMMU, July 1: An awareness-cum-interactive programme on “Atmanirbhar Bharat Abhiyan (ANBA)/Self Reliant India Movement” was organized today by Anoo Malhotra, Director Industries & Commerce (I&C), Jammu.
Trishla Kumari, Joint Director (M&P) was the incharge of the session. Subah Mehta (General Manager, District Industries Centre, Jammu) and Sansar Chand (General Manager, District Industries Centre, Samba) and officers from State Bank of India and Punjab National Bank of Jammu and Samba districts attended the meeting.
Threadbare discussions on various agendas were held and the bankers apprised the unit holders that under Atmanirbhar Bharat Abhiyan or Self Reliant India Movement, Rs 3 lakh crore collateral free automated loans for business including MSMEs have been rolled out and a large number of entrepreneurs are availing the same.
“The scheme shall continue upto 31st of October, 2020 and finance shall be extended on first-cum-first serve basis. Under the scheme, the additional lending is extendable only to the existing borrowers/loanees to the tune of 20% of the outstanding loan as emergency lending. The scheme is only for such loanee, who have earlier availed loans on business/manufacturing of firms/units under all categories,” bankers informed the meeting.
Thereafter, in another session, a meeting regarding Trade Receivables Discounting System (TReDS) was held under the chairmanship of Director I&C Jammu. The webinar was organized by Department of I&C Jammu in coordination with MSME -Development Institute and Receivables Exchange of India Limited for creating awareness on TReDS and its benefits which is being implemented in the UT of J&K for maintaining the liquidity of MSMEs.
TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of MSMEs through multiple financiers. Sellers, buyers and financiers are the participants on a TReDS platform. Only MSMEs can participate as sellers in TReDS. Corporates, CPSUs and any other entity can participate as buyers in TReDS. Banks, NBFC – Factors and other financial institutions as permitted by the Reserve Bank of India (RBI), can participate as financiers in TReDS.
The session was organized under the guidance of Manoj Kumar Dwivedi, Commissioner/ Secretary Industries & Commerce. Dwivedi has emphasized that MSMEs of J&K should avail the facility of TReDS as it will help in maintaining liquidity in the market.
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