The Hindu Business Line : Working group on credit for J&K

THE Governor of Reserve Bank of India, Dr Y.V. Reddy, at a meeting with the Chief Minister of Jammu and Kashmir, Mr Mufti Muhammed Sayeed, proposed to set up a working group on credit for Jammu and Kashmir.This proposal from the Governor came during a meeting with the Chief Minister of Jammu and Kashmir, Mr Mufti Muhammed Sayeed.Mr Reddy was in Srinagar to chair a meeting of the Central Board of Directors of the RBI.

The working group will comprise representatives of three or four banks having large network in the State, representatives of Nabard and SIDBI and at least three representatives of entrepreneurs in the State.

The group will identify areas banks can help in advancing loans for self-employment projects, SME sector, agriculture, tourism and other areas. It will also address ways and means to simplify credit appraisal, documentation and disbursal procedures.

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