J&K LG hands over Rs 250 crore cheque to J&K Bank as the second installment of 5% Interest Subvention under Economic Package

In the Union Territory of Jammu and Kashmir, Lieutenant Governor, Manoj Sinha today handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as the second instalment of 5 per cent Interest Subvention under Economic Package, as a relief for the business sector in J&K.

Mr Sinha in a tweet said, "Today handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as the second instalment of 5 per cent Interest Subvention under Economic Package, as a relief for the business sector in J&K."

While interacting with the media persons the LG observed that around 3.41 lakh small and big businessmen and business establishments have availed of the benefits of the Interest Subvention and the UT administration will continue to release the Interest Subvention part as and when we receive the request.

Highlighting the initiatives taken by the government for bringing reforms in the economic sector in J&K, the LG said that an amount to the tune of Rs 264 crore has been disbursed as financial assistance to 16,800 youth identified to become entrepreneurs under the Back to Village and My Town My Pride programmes, and termed the initiative as Bank's home delivery of services to the aspiring entrepreneurs.

He observed that investors from across the globe are eyeing J&K as their preferred investment destination. The LG added that Rs 28,400 crore. New Industrial Development Scheme will certainly boost the morale of entrepreneurs and investors. The LG added that in the healthcare sector all efforts would be made to bring the big players in the sector to the UT.