Provide loans to unemployed youth for new ventures: Guv
JAMMU, FEBRUARY 21 Governer N N Vohra, e-launched 11 branches and an equal number of ATMs of the HDFC Bank at a function held at Raj Bhavan here today.
The new branches are located at Rajbagh, Soura, Munawarabad, Nowgam, Chanpura, Pantha Chowk and Bemina in Srinagar, Handwara, Pampore, Bijbehara and Kathua.
Speaking on the occasion, the Governor called upon the bankers to come forward in a significant way to provide loans to the entrepreneurs and other unemployed youth for setting up their ventures under the various State and the Centrally-sponsored schemes.
“This will generate employment and boost economic development of the State,” he said.
He impressed upon the HDFC Bank management to set up a window to exclusively cater to the loan requirements of the entrepreneurs so that they are able to establish their ventures expeditiously.
“Agriculture and its allied sectors have a very high potential for growth in the State. In this context, bankers should advance loans for the saffron growers, walnut, fruit and saffron processing units, for setting up cold storages and grading, sampling and packaging units etc,” he said.
Governor said that micro-finance can be very useful for economic development of the remote areas and the banks should give high priority for providing services in such areas.
In his welcome address Vice President and Circle/State Head of the HDFC Bank, Zubair Iqbal said the Bank presently has 2200 branches and an ATM network of more than 6000, spread across the India.
“In J&K, the HDFC Bank started its business operations in 2003 and presently it has 24 branches and 66 ATMs. With the launching of 11 more Branches today, their number has gone upto 35 in the State,” he said.
He said that total deposits of the Bank have gone upto Rs 630 crore, and it has advanced loans to the tune of Rs 179 crore so far.
The Bank has generated employment for over 1000 persons in the State.
Ravi Narayanan, Vice President of the Bank, and other senior executives of the bank were present on the occasion.