J&K Bank sanctions over 30,000 Loans to Youth Entrepreneurs under Mission YUVA

SRINAGAR: J&K Bank has sanctioned more than 30,000 loans under the Government of Jammu and Kashmir’s flagship Mission YUVA initiative, marking a major milestone in its efforts to promote youth entrepreneurship and self-employment across the Union Territory.

According to the Bank, a total of 30,063 loan applications have been sanctioned so far, while loans have been disbursed in over 26,580 cases, reflecting the pace of implementation of the entrepreneurship-focused programme.

The Bank said the achievement underscores its role in facilitating access to finance for aspiring entrepreneurs and supporting the government’s objective of generating sustainable livelihoods through enterprise development.

Congratulating employees on the milestone, Managing Director and Chief Executive Officer Amitava Chatterjee described the achievement as a reflection of the commitment and coordinated efforts of the Bank’s workforce.

“Crossing the milestone of 30,000 sanctions under Mission YUVA is a proud moment for the Bank and a testament to the dedication and tireless efforts of our teams across the network,” he said.

Reaffirming the Bank’s commitment to the programme, Chatterjee said Mission YUVA has emerged as an important initiative for encouraging entrepreneurship among young people and creating sustainable employment opportunities.

He said the Bank would continue extending timely financial assistance and institutional support to eligible entrepreneurs while working towards achieving all targets assigned under the programme within the stipulated timeframe.

Mission YUVA is the Jammu and Kashmir Government’s flagship initiative aimed at promoting self-employment by facilitating credit support and handholding for aspiring entrepreneurs. J&K Bank has been the principal financial institution implementing the programme by providing loans for setting up new enterprises across sectors.