Srinagar, Jan 11: A meeting chaired by Executive Director & COO of J&K Bank was held to review progress on implementation of IBA package on MSME, Housing and Auto sectors for December 2009.
 Director Industries, senior representatives of Reserve Bank, representatives from major banks and office bearers of various SME organizations attended the meeting.
 It was observed that the economic package was being implemented by the banks with seriousness and satisfactory progress had been achieved during the period under review.
 It was noted that by December end banks in the state have restructured 4431 MSME accounts involving Rs 243.10 crores. Till December banks had sanctioned fresh working capital loans to the extent of Rs 619.22 crore in favour of 11020 beneficiaries.
 Soft Loans for digital generator sets have been sanctioned to the tune of Rs 3.13 crore in favour of 76 beneficiaries. Besides, housing loans to the tune of Rs 474.62 crore have been sanctioned in favour of 17037 beneficiaries; and auto loans to the tune of Rs.288.30 crore have been sanctioned in favour of 9,789 beneficiaries during the said period.
 The representatives of trade & industry again pleaded for restoration of the incentives granted in the industrial policy of the state, which include the incentive of subsidy on premium of land to the MSMEs.

Lastupdate on : Mon, 11 Jan 2010 21:30:00 Makkah time
Lastupdate on : Mon, 11 Jan 2010 18:30:00 GMT
Lastupdate on : Tue, 12 Jan 2010 00:00:00 IST