Excelsior Correspondent
JAMMU, May 2: The Task Force Committee under J&K Self Employment Scheme (JKSES) today approved 31 cases for interest free loan and subsidy for various enterprises to be established in the district. Approved cost of projects ranged between Rs 1.50 lakh to Rs 7.50 lakh.
A total of 49 candidates, including joint venture initiatives, appeared before the committee for interview for loan under JKSES to establish provision stores, purchase of vehicles, departmental stores, X-Ray and diagnostics, chemist shops, tourism related activities, purchase of commercial vehicles, DTP printing and photostat units. Out of this, 31 cases were approved and rest forwarded to Employment Department. Applicants from remote areas of Arnas, Mahore, Dharmari, Thakrakote, Pouni and Bidda appeared before the committee.
Under JKSES 15% margin money is given and 5% capital subsidy. Amount of loan is Rs 2 lakh for retail, Rs 3 lakh for service and Rs 10 lakh for joint venture. There is a moratorium on interest for six months, following which 75% of prevailing rate is charged for one year and 50% for next one year. The scheme has encouraged rural youth for self employment through this initiative.
The committee was headed by District Development Commissioner, Reasi, Dr Shahid Iqbal Choudhary and included Deputy Director Employment, Lead District Manager, Cluster Head J&K Bank, Chief Animal Husbandry Officer, General Manager DIC.
The DDC impressed upon officials and bank representatives to take this innovative credit support scheme to remote areas and also increase banking facilities for masses. He instructed Employment Department to encourage entrepreneurs associated with religious tourism in Reasi.
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