J&K Bank co-hosts workshop on Credit Guarantee Fund Scheme

By
Daily Excelsior
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Excelsior Correspondent
SRINAGAR, Sept 3: J&K Bank today co-hosted a one-day seminar-cum-workshop on Credit Guarantee Fund Scheme with J&K Industries and Commerce Department and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Financial Commissioner, Industries and Commerce Department J&K Khurshid Ahmad Ganai presided over the function, wherein J&K Bank Chairman and CEO Mushtaq Ahmad was the chief guest.
CEO, CGTMSE S L Chaudhry, Additional Development Commissioner (Ministry of MSME), M P Singh and Secretary/CEO Khadi Village and Industrial Board (KVIB) Mir Afroz, J&K Bank Executive President Abdul Hamid Banday, President A&AP Mohammad Amin Mir and other senior officers were also present on the occasion.
In his presidential address, Khursheed Ahmad Ganai said that lack of awareness among the aspirants and lack of will on part of borrowers to get their cases covered under the CGTMSE scheme appeared to be the main obstacles in implementation of the scheme. “We will take up the issue with Government of India suggesting that RBI must nudge all the banks to implement the scheme in a more substantial manner”, he said.
Speaking on the occasion, Chairman & Chief Executive Officer, J&K Bank, Mushtaq Ahmad said, “Based on our successful experience with SKEWPY, we shall hand hold the entrepreneurs and extend all types of financial assistance to them under MSME sector. We will see to it that our MSME borrowers get the required CGTMSE cover.”
Responding to the absence of other banks from the seminar, he reiterated J&K Bank’s commitment to serve the people of State with all dedication.
“The main focus of the scheme has been to reach to every nook and corner of the State and help out the MSE sector”, said S L Chaudhry, CEO CGTMSE.
Listing the benefits and constraints of the CGTMSE Scheme during his address M P Singh ADC (MSME) said, “Credit is the life-line of any and every industry. Here in the State such clarity about the CGTMSE scheme assumes more importance as majority of industry units fall under MSME sector.”
The second session of the seminar was a technical one, wherein the ADC MSME and CEO CGTMSE made detailed power point presentations about all the aspects of Credit Guarantee Fund Scheme.

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