Excelsior Correspondent
JAMMU, Mar 12: J&K Bank envisages itself as a developmental institution central to the prosperity of J&K State and as such lays high emphasis on inclusive growth to bring into its fold the weakest sections of the society.
Despite being a commercial organization in nature, the bank is well known as a responsible corporate citizen. The entrepreneurship in the State has received a sustained and institutional focus from the bank since it took up the flagship scheme of State Government, Sher-i-Kashmir Employment and Welfare Programme for Youth (SKEWPY).
The bank has so far provided Rs 271.31 crore as loans to 3791 budding entrepreneurs of the State, who are scripting new tales of success across the State.
Out of the 8248 cases received from the Entrepreneurship Development Institute (EDI), the bank has processed and recommended 7934 cases back to EDI.
Notably, the process of identification of the beneficiaries in all these cases besides incubation of new business ideas is exclusively done by EDI itself.
Besides, the bank’s network of Rural Self Employment Training Institute (RSETI) has been training large number of rural youth of the State in various skill development courses like dress designing, mobile repairing, embroidery making, etc.
So far, the bank’s 12 institutes have trained 19893 candidates out of which 4394 have been provided credit linkage and have started their own small business ventures.
Moreover, the bank remains invested in the State in all the sectors of economy. The outstanding loans of the bank as on December 31, 2015 stood at Rs 25587.38 crore, which is 62.38 percent of the total credit deployed by all the banks operating in the State. Out of these, Rs 13241.07 crore have been disbursed to priority sector and Rs 12346.31 crore to the non-priority sector.
Meanwhile, J&K Bank takes pride in being socially conscious and focuses on projects under its corporate social responsibility (CSR) umbrella that bode well for the well-being of people and communities across various geographies of the State.
The bank undertakes all the CSR activities in line with the CSR Policy and in accordance of Schedule VII of the Companies Act, 2013.
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