Vikramjit advises KVIB, fin institutions to devise SOPs to minimise rejections

Srinagar, Aug 14: Commissioner Secretary Industries & Commerce, Vikramjit Singh, who is also chairman of JKREGP-UTLMC, on Wednesday chaired the 6th UTLMC meeting at Civil Secretariat here.
The meeting was attended by Director, Industries & Commerce Jammu, Director, Entrepreneurship Development Institute, Director Planning Industries & Commerce Department, and officers from J&K Bank, J&K Grameen Bank and J&K State Coop. Bank, Secretary/CEO J&K KVIB and other senior officers of the Board.
During the meeting, the performance under JK Rural Employment Generation Programme (JKREGP) was reviewed and it was informed that during the financial year 2023-24, Margin Money of Rs 2331.10 lakh has been released for the establishment of 916 units thereby creating employment opportunities for 5496 persons.
The Commissioner Secretary applauded the overall performance under JKREGP. He, however, raised the issue of high instances of rejection and advised J&K KVIB and financial institutions to devise SOPs to minimize the instances of rejection. The target for the establishment of 1372 Units involving Margin Money of Rs 2274 lacs for the Financial Year 2024-25 was approved by the Committee.
The Commissioner Secretary expressed his satisfaction with the implementation of the scheme and utilisation of funds during the FY. 2023-24.
He underlined the need for close coordination and synchronisation among the J&K KVIB and bankers to ensure that the benefits of J&K KVIB are percolated among the target population.