8th September 2007
Srinagar
JK Bank launches Dastkar Finance Scheme A tribute to golden hands: Mushtaq Ahmad
Committed to revive the traditional handicrafts of the state, J&K Bank today launched a special scheme for craftsmen of the valley at a simple but impressive function here at Craft Development Institute (CDI) in Baghi Ali Mardan Khan.
The scheme was launched by Mr. Mushtaq Ahmad, Executive Director of the Bank. Among other dignitaries present on the occasion were Mr. Manzoor ahmad Shah, President of the Bank, Dr. Mubeen Shah, President KCCI and Mr. Shariq Farooqui, Director Craft Development Institute.
A tailor-made product designed keeping in view the needs and requirements of the craftsmen "JK Bank Dastkar Finance" aims to dilute the role of intermediaries and brokers so that the craftsmen who, by the dint of their art and labour make a carpet, a Kani shawl or décor beautiful designs of embroidery on various hand made shawls. Apart from providing finance up to Rs 305000/=, the scheme provides a comprehensive insurance cover under Credit Guarantee Fund Scheme. Moreover, the documentation has been simplified.
The highlight of the event was on-the-spot sanction and disbursement of around fifty cases received from Rajouri Kadal, Baghi Ali Mardan Khan, Nawa Kadal and Alamgari Bazar branches of the Bank.
"Lot of hard work has gone into designing this product. JK Bank officials, KCCI members and representatives of the artisan community had really a tough time to make this scheme composite, comprehensive and artisan-friendly. JK Bank Dastkar Finance is a tribute to those golden hands that nature has bestowed with a rare gift," Mr Mushtaq Ahmed, Executive Director J&K Bank said while formally launching the scheme.
"The purpose behind devising such schemes is to empower people by getting them rid of the intermediaries and brokers. This does not mean that we are snatching anybody's right to earn. They have every right to do business. They can become big traders, sound businessmen or even exporters. In fact, we can help them in establishing, consolidating and expanding their business by designing new products provided they come forward with ideas and inputs," Mr Mushtaq added.
He further made it clear that by preparing and launching new schemes and improving customer service, J&K Bank was not doing any favour to people. "It is our responsibility. We are here to serve and empower people. And in that endeavor we need your support and co-operation. It is your Bank that stood by you through thick and thin especially during the last seventeen years. We served you when others downed their shutters and vanished in thin air," Mr Mushtaq concluded.
The scheme evoked a tremendous response from hundreds of artisans who had come from different areas of the city to attend the launching ceremony. People appreciated the Bank's initiative and thanked Bank management for coming to their help. "It is a wonderful effort. It really addresses our issues and concerns while the low interest rate of just 10% is a real boon for craftsmen with meager means," said Abdul Majid while applauding the scheme. It is notable that artisans present on the occasion sought various clarification about the scheme, which were duly responded by the executives of the bank.
A tailor-made product designed keeping in view the needs and requirements of the craftsmen "JK Bank Dastkar Finance" aims to dilute the role of intermediaries and brokers so that the craftsmen who, by the dint of their art and labour make a carpet, a Kani shawl or décor beautiful designs of embroidery on various hand made shawls. Apart from providing finance up to Rs 305000/=, the scheme provides a comprehensive insurance cover under Credit Guarantee Fund Scheme. Moreover, the documentation has been simplified.
The highlight of the event was on-the-spot sanction and disbursement of around fifty cases received from Rajouri Kadal, Baghi Ali Mardan Khan, Nawa Kadal and Alamgari Bazar branches of the Bank.
"Lot of hard work has gone into designing this product. JK Bank officials, KCCI members and representatives of the artisan community had really a tough time to make this scheme composite, comprehensive and artisan-friendly. JK Bank Dastkar Finance is a tribute to those golden hands that nature has bestowed with a rare gift," Mr Mushtaq Ahmed, Executive Director J&K Bank said while formally launching the scheme.
"The purpose behind devising such schemes is to empower people by getting them rid of the intermediaries and brokers. This does not mean that we are snatching anybody's right to earn. They have every right to do business. They can become big traders, sound businessmen or even exporters. In fact, we can help them in establishing, consolidating and expanding their business by designing new products provided they come forward with ideas and inputs," Mr Mushtaq added.
He further made it clear that by preparing and launching new schemes and improving customer service, J&K Bank was not doing any favour to people. "It is our responsibility. We are here to serve and empower people. And in that endeavor we need your support and co-operation. It is your Bank that stood by you through thick and thin especially during the last seventeen years. We served you when others downed their shutters and vanished in thin air," Mr Mushtaq concluded.
The scheme evoked a tremendous response from hundreds of artisans who had come from different areas of the city to attend the launching ceremony. People appreciated the Bank's initiative and thanked Bank management for coming to their help. "It is a wonderful effort. It really addresses our issues and concerns while the low interest rate of just 10% is a real boon for craftsmen with meager means," said Abdul Majid while applauding the scheme. It is notable that artisans present on the occasion sought various clarification about the scheme, which were duly responded by the executives of the bank.