Back to Village Program| Banks disburse Rs 337 cr among 20,000 beneficiaries for self employment

Back to Village Program| Banks disburse Rs 337 cr among 20,000 beneficiaries for self employment
Representational ImageFile/ GK

Srinagar: With a view to create self-employment opportunities in rural areas, banks operating in Jammu and Kashmir have disbursed Rs 337 crore loans in favor of 20,000 beneficiaries enabling them to start their business ventures.

Jammu and Kashmir’s much hyped Back to Village program which provided platform to people to get their grievances redressed also provided opportunities for creating self-employment opportunities in rural areas where these programs were held by the government officials.

A senior finance department official informed “targets assigned by J&K Government under ‘Back to Village’ program have been achieved by disbursing an amount of Rs 337 crore in favor of 20,000 Beneficiaries.”

J&K government launched the third phase of an ambitious and extensive program B2V3 from 2nd to 12th October 2020. The program involves government officials and banks in a joint effort to facilitate equal growth through community participation besides redressing public grievances.

The government had set an aggregate target of 20,000 cases to banks to be achieved by the end of FY 2020-21

The third phase of 'Back to Village (B2V3) was launched from 2nd to 12th October 2020. The program was preceded by a build-up of 21-day Jan Abhiyan/Awami Muhim which inter alia included implementation of three essential components viz. Adhikar Abhiyan/Muhim Barai-e-Haqooq; Unnat Gram Abhiyan/Dehi Taraqiyati Muhim; and the Jan Sunwai Abhiyan/Awami Sunwai Muhim. The program envisages joint involvement of government officials and banks to facilitate equal growth through community participation besides redressal of public grievances. A target of 10,000 loan cases was assigned to banks under the program with focus on employment generating schemes.

A senior government official said that the back to village programs have proved to be successful in mitigating grievances of people living in rural areas. "These initiatives have brought officials as well as banks to their doorsteps. The finance component under self-employment has helped over 20,000 youth to start their businesses and be job creators rather than seekers. It has helped them avail finances for starting up small establishments within a short span of time." It is pertinent to mention that Lieutenant Governor Manoj Sinha on October 27 announced the sanctioning of over 10,000 cases under B2V3 Self-Employment Programme,

The Lt Governor had stated that his "mantra for J&K revolves around 4 Ps" viz. Peace, Progress, Prosperity and People first. He had said that the sanctioning of over 10,000 cases under B2V3 Self Employment Programme, Economic Package and My Town-My Pride highlighted the UT government's commitment to empowering the youth which is one of the foremost priorities of the J & K government.

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