Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: To accelerate MSME growth, J&K Bank signs MoU with CIMSME
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > To accelerate MSME growth, J&K Bank signs MoU with CIMSME
Breaking

To accelerate MSME growth, J&K Bank signs MoU with CIMSME

RK Online Desk
Last updated: April 11, 2023 10:46 pm
RK Online Desk
Published: April 11, 2023
Share
4 Min Read
SHARE

Forging partnership with Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) to accelerate growth of manufacturing enterprises, J&K Bank today signed a Memorandum of Understanding (MoU) with the country’s apex chamber of MSMEs that represents their interests and issues with the Government and various Regulators while being active participant in MSME related policymaking.

General Manager (Corporate Banking/MSME/Agriculture) Ashutosh Sareen signed the MoU on behalf of the Bank, while as, President Mukesh Mohan Gupta put in his signatures representing CIMSME in presence of MD & CEO J&K Banl Baldev Prakash, Executive Director Sudhir Gupta, General Manager Narjay Gupta, Director (CIMSME) Subhash Joinwal, DGMs and other senior Bank officials. Bank’s Divisional Heads also joined the function through VC Mode.

While lauding the role of CIMSME in promotion of MSMEs, MD & CEO Baldev Prakash expressed pleasure over the signing of MoU. He said, “As a responsible financial institution we understand that MSME sector plays a critical role in fostering entrepreneurship and generates huge employment opportunities thereby contributing greatly to the country’s GDP. Moreover, MSME lending is profitable for banking industry and we need to translate this MoU into solid business growth especially in the rest of India because this is the sector which complements the large industries in the form of subsidiary units that are vital to the entire eco-system.”

“J&K Bank has always been on the forefront of creating employment opportunities and we have robust numbers to back our commitment towards encouraging the MSME growth in the country. There has been a growth of 440% in the number of Bank’s MSME accounts during the last six years while as the credit exposure to the sector has witnessed 232% increase from Rs 4768 Cr to Rs 15872 Cr.”, he added.

Asserting that MSME sector will bolster economy of the UT and the country alike, MD said, “We will ensure that bankable leads generated by the CIMSME are processed in a time bound manner.”

Speaking on the occasion, President (CIMSME) Mukesh Mohan Gupta said, “We feel honoured for J&K Bank’s acceptance of our request for the tie up. Having J&K Bank on board is great boost for us that will eventually help MSME sector a great deal.”

Citing the lack of awareness about various MSME schemes and processes to avail the facilities, he stressed upon the need to educate lenders particularly at operational levels and borrowers of this sector. He further added, “We will soon be coming up with a web portal for ease of both MSME lenders and borrowers.”

Executive Director, Sudhir Gupta said that signing of the MOU with the apex chamber is akin to forging a partnership that will go a long way in promoting the culture of enterprise across the country while adding to the Bank’s business profile.

Earlier, GM Ashutosh Sareen said that under the tie-up CIMSME will not only source the MSME/Start-up proposals across the country but will conduct due diligence of these proposals as per the Bank policy and RBI Guidelines. And once CIMSME is satisfied with the financials and track records of the company/firm, the leads will be shared with the Bank for further processing.

Notably, the Bank provided benefits of employment to around 92000 youth till March 2023, under the J&K Government’s flagship programmes ‘Back to Village 4.0’ and ‘My Town My Pride’ – a feat that has been hailed by the UT Government and people alike.

 

PM Modi speaks with Rishi Sunak, discusses need for peace, stability in West Asia
GoI releases Rs 14.75 cr for 4 projects under Khelo India scheme in 2018-19: Satish Sharma
Distt Admin Srinagar issues advisory in view of inclement weather
NTA officials won’t be spared if they are found guilty of NEET irregularities, says Dharmendra Pradhan
Amritsar resident shot dead, another injured in Srinagar terror attack: Police 

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Boat Race, Cricket match held as part of SVEEP activities in Bandipora
Next Article CS emphasizes on digital DPRs & billing of all works under OMMAS only
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

GCC delegation calls on CM Omar Abdullah 
Breaking
June 18, 2025
“I stopped the war between Pakistan and India”: Trump again makes claim of brokering peace
Breaking National World
June 18, 2025
Kashmir braces for heatwave again as temperature surges
Breaking Kashmir
June 18, 2025
India launches Operation Sindhu to evacuate Indian nationals from Iran
Breaking World
June 18, 2025

Recent Posts

  • GCC delegation calls on CM Omar Abdullah 
  • “I stopped the war between Pakistan and India”: Trump again makes claim of brokering peace
  • Kashmir braces for heatwave again as temperature surges
  • India launches Operation Sindhu to evacuate Indian nationals from Iran
  • J&K Govt revolutionises digital governance with High Impact Cyber security Workshop

Recent Comments

  1. Shah on Relief for Employees: J&K Bank Fixes EMI-Credit Mismatch, says JK Bank Chairman
  2. Latif khan on Why Kashmir needs Stronger Private Healthcare and Health Insurance
  3. Sameer farooq mir on Qazi Irfan assumes charge as RTO Kashmir
  4. Captain Vikrama on CM Omar Abdullah hails historic feat as three Kashmiri Girls crack IIT-JEE Advanced
  5. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?