Continuing its thrust on promoting small entrepreneurs in the state, The J&K Bank has overachieved its targets set by the state government for lending under PMRY. Against a Target of 172 cases for Srinagar District for FY07, The J&K Bank disbursed 205 cases, thereby, over-achieving the targets by more than 30 cases.
Prime Minister's Rozgar Yojana or PMRY is a Central Government Scheme for establishment of low investment and environment-friendly self-employment ventures with a focus on creating Job Avenues for unemployed persons.
J&K Bank has, for quite sometime now, been substantially increasing its credit disbursement in the state with a focus on local economic segments. The Bank has renewed its emphasis on lending to various sub-economies of the state so as to promote local entrepreneurs and catalyse economic reconstruction of the J&K state.
Whileas the bank has recently come up with a variety of loan schemes for handicrafts, agriculture, horticulture etc, it is also implementing a number of government sponsored schemes by providing hassle-free finance to eligible borrowers under those schemes.
The government circles have appreciated the bank's strategy of promoting local entrepreneurs and has felicitated its officers and Branch Heads for their exemplary contribution at a special function organised by the District administration on 11th July, 2007.