LG felicitates youth selected for self-employment on R-Day

Lt Governor Manoj Sinha felicitating youth selected for self employment.
Lt Governor Manoj Sinha felicitating youth selected for self employment.

J&K Bank’s ‘Nayi Disha’ programme

Excelsior Correspondent
JAMMU, Jan 25: On the eve of 74th Republic Day, Lieutenant Governor, Manoj Sinha felicitated and handed over certificates to selected youth who have availed the assistance to start their own business venture.
The Lt Governor said that the administration is fully committed to youth entrepreneurship and ensuring self-employment opportunities.
“We have taken many steps to create supportive infrastructure, schemes and policies to speed up economic development of Jammu Kashmir and to meet the aspirations of our young people. Mission Youth, JKRLM and other government agencies along with J&K Bank are helping thousands of new entrepreneurs to set up businesses. The drive during Back to Village and My Town My Pride created a new record enabling 75,000 young entrepreneurs to start a new chapter of their life while celebrating Azadi Ka Amrit Mahotsav,” the Lt Governor said.
“It is a day of pride for J&K. We have identified youth from every Panchayat and town of the UT and more than 75000 youth have been connected with livelihood opportunities. I congratulate J&K bank as it has more than 90% share, extending around Rs 900 crores,” the Lt Governor added.
“We have scripted a golden chapter of the employment boom in J&K. It is our commitment to ensure aspirations, creativity & enterprise of every youth is realized. We have been steadfast in our resolve to empower young generation,” the Lt Governor said.
J&K Bank has shed its past image. It is now the common man’s bank and significant partner of J&K’s developmental journey. Several initiatives have been taken to ensure financial inclusion where every citizen, irrespective of socio-economic status, is empowered to participate in the new age economy, observed the Lt Governor.
Speaking on the potential of youth of J&K, the Lt Governor said, from service sector to agri-entrepreneurs & start-ups, our youth have achieved unprecedented success.
Pulwama has set a new record by providing opportunities to 7324 youth to set up their own business venture. J&K setting up maximum number of manufacturing units in PMEGP in the country last year and also generating maximum number of employment is a testimony to our commitment to youth, he added.
In all the newly started business ventures, 15% of the entrepreneurs are our daughters who have started their entrepreneurial journey in sectors like training institutes, boutiques, handicrafts etc, the Lt Governor further added.
Women are driving the socio-economic transformation in Jammu Kashmir. They are the backbone of our society. It is indeed a privilege for J&K Bank to contribute in this campaign of women empowerment, the Lt Governor said.
The banking sector will have to play a pivotal role for the rejuvenation of the agriculture & allied sector. By taking banking services to common man, SHGs, village industries and innovative start-ups can create a competitive economy in Jammu and Kashmir, he added.
On the occasion, the Lt Governor also launched various initiatives of the J&K bank including enhancement of Group Personal Accident Insurance from Rs 15 lakh to Rs 25 lakh for J&K UT Government Employee and Instant loan disbursal for J&K Government employees.
An MoU between J&K Bank and Jammu Kashmir Energy Development Agency (JAKEDA) was also signed in presence of Lt Governor.
As a part of the Corporate Social Responsibility of J&K Bank, an ambulance was handed over to Government Psychiatric Hospital, Jammu and a computer lab was announced for Bhatriya Vidya Mandir, Udhampur.
Dr Arun Kumar Mehta, Chief Secretary, speaking on the occasion, congratulated the J&K bank for launching new initiatives and extending banking facilities across the UT.
Baldev Prakash, MD & CEO J&K Bank highlighted the Bank’s role in the Atma Nirbhar Bharat campaign and extending financial assistance to the youth of J&K to set up their business enterprises.
It was informed that Rs 980 cr was sanctioned by all banks for self employment ventures of the youth during Back to Village-4 & My Town My Pride 2.0.