SRINAGAR: The Industries and Commerce Department, on Wednesday organised a seminar/workshop on “Credit Guarantee Fund Scheme for Micro and Small Enterprises”, in association with Jammu and Kashmir Bank, at SKICC, in order to enhance awareness among the micro and small enterprises as also Banks/Financial Institutions operating in the state of Jammu and Kashmir about Credit Guarantee scheme, which facilitates flow of credit to the sector.
The seminar/workshop organised in collaboration with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Mumbai was attended by Financial Commissioner, Industries and Commerce, Khurshid Ahmad Ganai, M.P Singh, Additional Development Commissioner (MSME), Government of India, S.L Choudhury, CEO, CGTMSE and Chairman Jammu and Kashmir Bank, Mushtaq Ahmad.
It evoked overwhelming response with large participation of Banks/Financial Institutions, MSME Associations and State Government officials. Senior officers from Ministry of MSME, Government of India discussed about the implementation of the scheme and emphasized on making the scheme more popular.
Khurshid exhorted the banks/financial institutions to take the benefits available under the scheme to ease the credit flow to micro and small enterprises in the State.
M.P Singh stated that Credit Guarantee Scheme has been helpful in facilitating institutional credit flow to the Micro and Small Enterprises sector and has revived confidence in credit guarantee mechanism in a major way. In order to optimise the benefits of the scheme there is a need to put in vigorous efforts by all the agencies involved in its implementation.
S.L Choudhury made a presentation on the basic features and the benefits of Credit Guarantee Scheme and progress made with regard to its implementation in the state of Jammu and Kashmir. He stressed that there is a scope for further increasing the coverage of proposals under the scheme in the state by improving its awareness among all stakeholders.
Mushtaq Ahmad in his address gave details of the role of Jammu and Kashmir Bank in providing Banking/Financial services in the state.
The programme also deliberated upon the credit related problems faced by micro and small enterprises.