JK Bank to set up separate vertical for start-ups to foster entrepreneurship

Excelsior Correspondent
SRINAGAR, May 22: J&K Bank will be creating a separate vertical for start-ups to foster entrepreneurship, especially micro and small enterprises segment, in all districts, blocks and panchayats in the State.
The vertical once set up will draw the processes and procedures to offer single window facilitation to prospective entrepreneurs with the aim of handholding the budding entrepreneurs at the outset/inception phases.
This was announced by the J&K Bank Chairman and CEO Parvez Ahmed after the conclusion of the Policy Consultative Workshop for academic leaders presided over by Governor, N N Vohra.
CEO shared the role of financial institutions in creating start-up environment and confirmed bank’s intention to channelize all resources to support entrepreneurs through the start-up centers. The initiative by JK Bank is in congruence with Governor’s vision to hand-hold start-up aspirants in the State, he added.
Chairman Parvez Ahmed informed that “The bank is setting up a dedicated department and start-up vertical at its Corporate Headquarters with tiers upto the district level. We will deploy committed work force in all tiers who will be undertaking mega marketing and awareness initiatives for the general public. Through this vertical, bank aims to create a one point access for entrepreneurs with a facilitation approach at every step. This approach has the potential to drive the entrepreneurial zeal of talented youth by harnessing the capabilities of innovative, young and dynamic entrepreneurs thus contributing to the financial growth of the State”.
He informed that the most significant feature of these start-up centre will be that it will conduct orientation sessions and workshops for the budding entrepreneurs in collaboration with Government Departments, CAs and legal advisors to impart information of documents, registrations and other formalities associated with establishing a business such as GST registrations, projected balance sheet and business proposal creation.

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