Excelsior Correspondent
JAMMU, Oct 20: The Department of Industries and Commerce today accorded sanction to the grant of 30 percent margin money of the soft loan lifted for the revival of sick industrial units.
An order in this regard was issued today, according to which, the margin money of 30 percent shall be released once the soft loan is approved in favour of sick industrial unit by the Jammu and Kashmir Bank Ltd on the basis of recommendation of Industries & Commerce Department.
The amount of margin money shall be placed directly at the disposal of Jammu and Kashmir Bank Ltd, instead of SIDCO for transfer to the loan account of the beneficiary industrial unit.
Follow our WhatsApp channel