Excelsior Correspondent
JAMMU, Nov 20: PHD Chamber of Commerce & Industry Jammu Region Chair, Rakesh Wazir while speaking in the Empowered Committee meeting on MSMEs with Reserve Bank of India, to review the flow of credit to the MSME sector in the UTs of J&K and Ladakh stressed for liberal funding to the J&K entrepreneurs.
The meeting was chaired by Chandrashekhar Azad, Regional Director, Reserve Bank of India, UTs of Jammu & Kashmir and Ladakh and attended besides others by the representatives of the most of the Banks. Wazir said that liberal financing to the entrepreneurs of J&K is the need of hour and for that even if some relaxation in rules for J&K is required, should be done.
He said that J&K remained involved in militancy since long and even otherwise is the far end corner of the country and keeping those aspects in mind, it becomes very difficult for business and industry to sustain and in those circumstances helping hand from the government is direly needed.
Wazir emphasized for bringing awareness among the people with regard to various schemes of the government by different ways including organising of awareness camps etc.so that various schemes started by the government should reach to the people.
He said levying of charges on the unutilised portion of the limits by certain Banks should be stopped. He said that certain Banks have become money collection centers only in our Union Territory and it should be emphasized that if they collect money through deposits they should give loans to the people of J&K also in the same ratio particularly in the remote areas so that business and Industry may flourish here.
Azad listened each and every point raised by PHDCCI minutely and besides giving on spot instructions to the representatives of the banks who were also present there. He assured that sympathetic consideration will be given to rest of the points.
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