Srinagar, May 15: Chairperson of the J&K Khadi and Village Industries Board (KVIB), Dr Hina Shafi Bhat presided over a Bankers Review meeting of the KVIB Kashmir Division on May 15, 2024, at the Civil Secretariat in Srinagar. Senior officers from the Board, officers from participating banks, and District officers of the KVIB Kashmir Division attended the meeting.
A statement said that during the meeting, it was revealed that in the last financial year, the KVIB released margin money of Rs 116.80 crores in the Kashmir Division, leading to the establishment of 6,245 units and creating employment opportunities for 48,988 individuals. Notably, 51% of these units, involving a margin money of Rs 59.57 crores, were established by women entrepreneurs, highlighting the Board’s commitment to promoting women’s economic empowerment.
Over the past five years, the KVIB has released margin money of Rs 418.36 crores, with a project cost of Rs 1,255.39 crores, for establishing 21,095 units in the Kashmir Division, generating employment opportunities for 168,760 people.
Chairperson Dr. Hina Shafi Bhat commended the participating banks for their role in successfully implementing the Prime Minister’s Employment Generation Programme and the Jammu & Kashmir Rural Employment Generation Programme. She emphasized that these employment generation programmes are designed to empower the masses, fostering economic independence and driving positive change. However, she advised bankers to refrain from rejecting cases on flimsy grounds.
Dr Bhat urged the bankers to give due diligence to cases involving aspirants from women and marginalized sections of society. She instructed the Banks and District officers to work in a mission-mode to ensure that claims referred back for rectification are cleared promptly.
Chairperson reiterated the need for synchronized efforts by implementing agencies and Banks to ensure that the benefits of employment generation programmes, such as PMEGP and JKREGP, reach the target population.
