“Development of a hassle free credit system in Government controlled financial institutions demands and deserves greater attention and intervention not only of the Jammu & Kashmir Government but also of the Ministry Of Medium and Small Scale Industrie of the Central Government.”
Very rightly Jammu & Kashmir Chief Secretary Attal Dulloo has observed that entrepreurship can’t be developed without a hassle free credit system in the Government controlled financial institutions particuilarly public sector banks but in Jammu & Kashmir the complaints about the hassle free credit system for the entreprenurs approaching public sector banks for financing their business ventures has increased but not reduced in recent years.Obviously the bottlenecks in the credit system of Government’s financial institutions including public sector banks has caught the attention of Chief Secretary Attal Dulloo. The hassle free credit system as directed by Chief Sectetary if applied only in cases of the beneficiaries of centrally sponsored Government schemes won’t bring about any major change in the entrepreneurship landscape of Jammu & Kashmir but if applied to entreprenurship projects of all classes and categories can boost both industrial and non-industrial entrepreneurship in both Kashmir Valley and as well as Jammu division. As observed by Chief Secretary there is undoubledly vast scop for both the expansion and extension of Medium and Small Scale industries equally in Kashmir Valley and Jammu division but miracles won’t happen overnight in absence of hassle free credit system at Government controlled financial institutions including public sector banks. As emphasis of both the Central and the Jammu & Kashmir Governments is both on the entrepenurship in medium and small scale industries and as well as growth of social service business sectors, the development of a hassle free credit system in Government controlled financial institutions demands and deserves greater attention and intervention not only of the Jammu & Kashmir Government but also of the Ministry Of Medium and Small Scale Industrie of the Central Government.
“The directions of the Chief Secretary for hassle free credit system for the budding entreprenurs won’t bring any major change in the financing of the new investment projects unless and untill a high powered committee is not constituted to oversee the working of the credit system in major financial institutions particularly Public Sector Banks like Jammu & Kashmir Bank. Ultimately the implementation of the decisions and the directions of the Chief Secretary matter more than the routine official practice of circulating the minutes of the high level meetings like the one chaired by Chief Secretary on hassle free credit system with administrative secretaries of several key departments including those of Finance and Industries and Commerce Departments.”
The directions of Chief Secretary for developing a grievance portal inclusive of government machinery and nodal officers from each bank would surely boost the spirits of the entrepreneurship among the budding entrepreneurs in Jammu & Kashmir but all depends on implementation of the decisions announced by the Chief Secretary. The directions of the Chief Secretary for hassle free credit system for the budding entreprenurs won’t bring any major change in the financing of the new investment projects unless and untill a high powered committee is not constituted to oversee the working of the credit system in major financial institutions particularly Public Sector Banks like Jammu & Kashmir Bank. Ultimately the implementation of the decisions and the directions of the Chief Secretary matter more than the routine official practice of circulating the minutes of the high level meetings like the one chaired by Chief Secretary on hassle free credit system with administrative secretaries of several key departments including those of Finance and Industries and Commerce Departments.
