Awareness programme on “Atmanirbhar Bharat Abhiyan or Self Reliant India Movement” held

Jammu: An awareness programme on “Atmanirbhar Bharat Abhiyan or Self Reliant India Movement” held under held here today under the supervision of Director Industries & Commerce, Jammu, Anoo Malhotra.
Subah Mehta, General Manager, District Industries Centre, Jammu, with leading Bankers of Jammu district was present on the occasion.
GM, DIC, Jammu apprised the participants that due to Pandemic COVID-19, the Center Government have announced various schemes to strengthen and mitigate the problems being faced by the entrepreneur in various sectors including MSME sector. In order to ensure that the benefits reach to all the eligible units registered with DIC Jammu as MSME, it is the need of the hour to work jointly to achieve the set targets, he added.
Thereafter, threadbare discussion was held on various agendas and the bankers apprised that under Atmanirbhar Bharat Abhiyan or Self Reliant India Movement, Rs.3 lakh crore collateral free automatic for business including MSMEs have been rolled out and a large number of entrepreneurs are availing the same.
A corpus fund to the tune of Rs. 3 lacs Crores stands created by the Government of India as SOS funds to mitigate the immediate needs of the Business community. The said scheme shall be lasted upto 31st of October, 2020 and finance shall be extended on first-cum-first serve basis. Under the said scheme, the additional lending is extendable only to the existing borrowers/loanees to the tune of 20% of the outstanding loan as emergency lending
Under the said scheme, no additional collateral guarantee is required and the same is hassle free for which the account holder falling under the Bank’s rating SMA0 & SMA1 are eligible while SMA2 are also under consideration.
The Bankers added that the said scheme is only for such loanee, who have earlier availed loans on Business / Manufacturing of firms / units under all categories and the same is not for individuals as well as for fresh loanees. There shall be moratorium on EMIs for 1st year of loan and loan shall be repaid in next 3 years in 36 installments.
It was also emphasized to conduct the “Loan Melas” at Industrial hubs in association with the concerned Banks and Industarlists where the unit holders and local Bank Branch Heads shall be called as participations so that the scheme shall reach at gross root level.
The camp was attended by Suresh Raina, LDM SBI, Rajiv Gupta, AVP HDFC Bank, Vinod Kumar DM, Canara Bank, Harpal Singh, Executive Manager J&K Bank, Fayaz Ahmad Shah, GM Credit, SBI, Satpal Sharma, DCO Punjab National Bank, Sahil Sharma, J&K Grameen Bank, Balwanr Raj, Sr. Manager Oriental Bank of Commerce and V.K. Sharma, Senior Manager J&K Grameen Bank including the officers and officials of DIC Jammu.

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