Funds 2828 enterprises in a single day to accelerate youth entrepreneurship across J&K
Srinagar, Jun 30: Committed to promoting entrepreneurship, self-employment, and inclusive economic growth across Jammu & Kashmir, J&K Bank celebrated the successful completion of one year of the J&K Government’s flagship Mission YUVA programme yesterday by observing a UT-wide ‘Mission YUVA – Mega Disbursal Day’, undertaking a focused credit delivery drive across its branch network.
There UT-wide campaign culminated with MD & CEO Amitava Chatterjee pressing the symbolic button during a virtual event held at the Bank’s corporate headquarters in presence of Chief General Manager Ashutosh Sareen, General Manager (RAM) Rakesh Magotra, DGMs Tanveer Hussain and Arjun Singh Rathore along with other senior officers. Besides Divisional Heads, Zonal Heads and Cluster Heads from Jammu as well as Kashmir also joined the proceedings virtually from their respective locations.
Under the flagship youth employment program, the Bank has so far sanctioned over 28400 cases to the tune of more than Rs 1300 Cr, reaffirming its pivotal role in facilitating timely access to finance for aspiring entrepreneurs across Jammu and Kashmir. During the massive credit drive today, the Bank made disbursement in 2828 cases.
Expressing satisfaction over the progress achieved during the first year of Mission YUVA, MD & CEO Amitava Chatterjee congratulated and appreciated every member of the Bank’s workforce for their commendable contribution towards the successful implementation of the programme.
He said, “My heartfelt thanks to each one of you for your unwavering support and cooperation in making this remarkable progress possible,” he said, adding that the achievements under Mission YUVA have further strengthened the Bank’s partnership with the Government of Jammu & Kashmir in promoting entrepreneurship and employment generation.”
While reviewing the roadmap ahead, the MD & CEO underlined two key priorities for the second year of Mission YUVA. He said that the success of the programme must now be measured not merely by the number of disbursements but by the tangible outcomes generated through the enterprises established under the scheme.
He stressed that the beneficiaries should be able to build sustainable businesses, generate steady revenues and create meaningful livelihood opportunities, which remain the primary objectives of Mission YUVA.
Setting an ambitious yet achievable goal for the current financial year, he said the Bank should strive to take the cumulative number of Mission YUVA disbursements to 50000 by the end of the financial year, expressing confidence that the target is well within reach given the experience, momentum and institutional capacity built over the past year.
The MD & CEO also urged all operational heads to closely monitor the utilization of funds in already disbursed cases and continue extending guidance to entrepreneurs to ensure optimum outcomes from the loans extended under the programme.
Earlier, General Manager (RAM) Rakesh Magotra briefed the chair on the Bank’s performance and progress under Mission YUVA. Highlighting the significance of sustained post-disbursement engagement, he emphasized that continuous monitoring of sanctioned cases, handholding of entrepreneurs and inculcating financial discipline among beneficiaries are critical to ensuring the long-term success and sustainability of the flagship programme.
Meanwhile, lauding the Bank’s performance, J&K Mission Director, Mission YUVA, Harvinder Singh (IAS) has also commended its institutional role. He said that J&K Bank has emerged as the principal implementation partner in Mission YUVA.
“J&K Bank’s proactive approach, timely credit delivery, and dedicated handholding of entrepreneurs have significantly advanced the programme’s objectives across Jammu & Kashmir. We appreciate the commitment of the Bank’s leadership and staff in translating the Government’s vision of entrepreneurship-led employment generation into meaningful outcomes on the ground”, he said.
Observed to commemorate one year of Mission YUVA, the Mega Disbursal Day witnessed focused efforts by branches across the Bank’s network in Jammu and Kashmir to complete pending formalities and expedite credit delivery to eligible beneficiaries. The initiative highlighted the Bank’s continued endeavour to translate entrepreneurial aspirations into successful enterprises through timely and responsible financing.
Notably, Mission YUVA has emerged as a significant catalyst for entrepreneurship-led development in Jammu & Kashmir by facilitating access to institutional credit for aspiring entrepreneurs. Throughout the programme’s first year, the Bank continues to be the principal financial partner in its implementation, supporting thousands of youth in establishing enterprises and contributing to employment generation, livelihood creation, and inclusive economic growth across the Union Territory.
