Srinagar: The Division Office of Khadi and Village Industries Board (KVIB), Srinagar, Wednesday organized a Divisional level Bankers Meeting at the Conference Hall, Sannat Ghar, Bemina, to review and strengthen the implementation of the Prime Minister’s Employment Generation Programme (PMEGP) and Jammu & Kashmir Rural Employment Generation Programme (JKREGP) in Kashmir Division.
The meeting, chaired by Additional Commissioner Kashmir, Akramullah Tak, was attended by General Manager Convenor Bank, Ashutosh Sareen; Managing Director J&K Cooperative Bank, Deputy General Manager Agri & MSME Credit, State Director KVIC, Deputy General Manager SBI, Deputy General Manager UTLBC, Regional Manager J&K Grameen Bank, Assistant Manager PNB, District Officers of KVIBs, LDMs and Director RSETIs of Kashmir Division, Cluster Heads of J&K Bank, besides representatives from various other leading financial institutions operating in Kashmir Division.
The meeting focused on enhancing coordination between KVIB and banking partners to accelerate employment generation and foster entrepreneurship across the region.
While applauding the performance of J&K KVIB Kashmir Division, Additional Commissioner Kashmir appreciated KVIB’s mandate to identify and mobilize prospective entrepreneurs, provide training and handholding support throughout the application process, facilitate project formulation with techno-economic viability assessments, and ensure timely submission of complete applications to banks and sanctioning of the application within the TAT period fixed.
He further directed the Banking partners to expedite processing and sanctioning of eligible loan applications within stipulated timelines, conducting thorough field visits and due diligence, and ensuring transparency in credit disbursement.
It was informed that during the year 2025-26, Margin Money to the tune of Rs 4268.80 crore was released for establishment of 2164 units thereby creating employment opportunities for 17042 entrepreneurs under PMEGPand JKREGP till ending November. During the last five years (2020-2025) under both the schemes (PMEGP/JKREGP) Margin Money to the tune of Rs 79127.64 crores was released for establishment of 35902 units creating employment for 35902 persons and out of which 13940 number of units (39%) are only Women entrepreneurs.
The meeting identified critical implementation gaps requiring immediate attention and cooperation between Government agencies and Banks.
The meeting resolved to implement a fast-track approval process for complete applications, conduct regular credit camps in potential clusters to increase outreach, and develop a common digital platform for seamless application tracking and monitoring across all stakeholders.
General Manager Convenor Banks reaffirmed commitment of the banks to work in close coordination with implementing agencies to achieve the twin objectives of employment generation and entrepreneurship development in Jammu & Kashmir. He assured best cooperation of the banks for successful and effective implementation of JKREGP and PMEGP.