(MENAFN- Kashmir Observer) Srinagar- In line with the Union Ministry of Finance's Department of financial Services (DFS) initiative, J&K UTLBC on Saturday organized an exclusive MSME cluster meet dedicated to Jammu and Kashmir's cricket Bat manufacturing industry in Anantnag.
Held at DPS Sangam in Anantnag, the event was part of a DFS-organized program encompassing 195 MSME clusters across the country, which were simultaneously addressed virtually by the Union Minister of Finance
and Corporate Affairs Nirmala Sitharaman from Pinnea Cluster, Bengaluru along with MoS Finance
Pankaj Chaudhary and MoS MSME
Sushri Shoba Karandlaje, while as, Union MSME Minister Jitan Ram Manijhi joined the program through video conferencing mode.
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“Under PM Narendra Modi's leadership, no state will be left behind. No MSME will be left behind. Even during Covid Pandemic not a single MSME was left. All the MSME were reached out to ensure they are provided with financial assistance under Guaranteed Emergency Credit Line (GECL).
Public Sector
Banks must increase MSME lending and target greater growth,” said Sitharaman, while addressing the participants across the country.
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At Anantnag, the Bank's General Manager (UTLBC), Syed Rais Maqbool, presided over the event that was attended by DGM Manju Gupta, Zonal Head (Anantnag) Khurshid Muzaffar, AGMs Suhail Ahmad Lone & Khavar Mehraj, LDM Parvez Ahmad Mir and other officials and representatives of the banks operating in J&K.
The event also witnessed the active participation of representatives of the Cricket Bat Manufacturing Industry.
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While interacting with the participants at DPS Sangam Anantnag, Syed Rais Maqbool underscored Banks' commitment to handhold and provide requisite financial assistance to MSME sector in the UT in the line with government's vision to make MSMEs self sufficient and play a vital role in employment generation.
“All Banks including J&K Bank are working relentlessly in increasing their MSME credit portfolio. MSME sector is on an upward growth and the Bank will take the lead in meeting the targets set by the government as highlighted by honourable Finance Minister in her address,” he said while addressing the entrepreneurs.
The meeting highlighted the Government's commitment to bolstering the MSME sector, especially the cricket bat manufacturing industry in J&K, which was selected as a focal MSME cluster by DFS.
With attendees listening patiently, the Anantnag function featured the dignitaries presenting the government's vision, priorities and initiatives for the MSME sector.
Notably, the participants representing the MSME Bat cluster said that the event will go a long way in reinforcing the growth potential within the cricket bat manufacturing industry, while aiming to enhance its market reach, competitiveness and its significance to the local and national economy.
Meanwhile, through initiatives like these, the Union Government and the banks will continue to work in close coordination to strengthen the MSME sector, which serves as the backbone of not only local communities but also contributes handsomely to the country's economy.
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