In line with the recent decision of the state government to waive stamp duty on the purchase of immovable property registered in the name of women, the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) is mulling to further incentivize the women entrepreneurship by reducing the interest rates on soft loans.
When asked what can be the probable respite to women from JKEDI after the decision of the state government to waive stamp duty on the purchase of immovable property purchased by women followed by J&K Bank’s reduction in rate of interest for females, Director JKEDI, Dr. M I Parray told Rising Kashmir that a proposal to reduce the interest rates on soft loans provided by the institute under different schemes has been submitted to the Government for its consideration.
“The institute has submitted a proposal to the government to further incentivize the women entrepreneurship by reducing the interest rates on soft loans provided under entrepreneurship development schemes being implemented by the institute,” Dr. Parray said.
JKEDI provides soft loans under Youth Startup Loan Scheme (YSLS) at 6% simple rate of interest to help the educated unemployed youth of the state establish their business ventures.
The proposal of further incentivising the women entrepreneurship is aimed to motivate and encourage women of the state to come forward and chose entrepreneurship as their career instead of hankering after the government jobs.
JKEDI is running two separate centres for women entrepreneurship, one each in Jammu and Srinagar to facilitate the establishment of business ventures by women on priority.