1st March 2012
Srinagar
J&K Bank waives off charges for JKEDI beneficiaries
J&K Bank today decided to waive off the charges on remittances of margin money to be deposited by the beneficiaries of a scheme implemented by Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) under the title titled ‘JKEDI-NDMFC'.
The decision is a part of Bank's strategy to encourage establishment of micro and small enterprises by the unemployed youth of the state.
The waiver of charges has been granted on remittances of margin money with regard to the scheme as majority of the beneficiaries under the scheme belong to remote areas of the state.
Notably, in most of the direct lending schemes of various state and central agencies implemented by JKEDI, the ultimate beneficiary is required to deposit margin money in the scheme-specific accounts of JKEDI maintained with J&K Bank.
The waiver was granted in response to the request made by JKEDI.
The decision is a part of Bank's strategy to encourage establishment of micro and small enterprises by the unemployed youth of the state.
The waiver of charges has been granted on remittances of margin money with regard to the scheme as majority of the beneficiaries under the scheme belong to remote areas of the state.
Notably, in most of the direct lending schemes of various state and central agencies implemented by JKEDI, the ultimate beneficiary is required to deposit margin money in the scheme-specific accounts of JKEDI maintained with J&K Bank.
The waiver was granted in response to the request made by JKEDI.