SHG Loan Initiative a Major Step for Women-Led Enterprises: Dar
Srinagar, Oct 08: In a major boost to women-led entrepreneurship in Jammu and Kashmir, J&K Bank and its sponsored entity, J&K Grameen Bank, have disbursed Rs 100 crore in loans to Self-Help Groups (SHGs) operating under the Jammu & Kashmir Rural Livelihoods Mission (JKRLM). The milestone was marked with the presentation of a symbolic cheque during the ongoing SARAS Mela at Municipal Park here.
The event, which concluded a month-long campaign promoting financial empowerment for rural women, saw the cheque handed over by Rakesh Magotra, General Manager of J&K Bank (Retail, Agri & MSME/GSS), and Raja Sajad, GM of J&K Grameen Bank, to Minister for Rural Development and Panchayati Raj, Javid Ahmad Dar. The ceremony was attended by Mission Director JKRLM Dr. Shubra Sharma, Additional Mission Director (Kashmir) Mohammad Imran Khan, and senior officials from NABARD, JKRLM, and the Bank.
Addressing the gathering, Minister Dar lauded the banks for sanctioning the loans to 2,673 SHGs, calling it a significant step toward promoting self-employment and women-led enterprises in rural areas. He emphasized that such initiatives strengthen the economic backbone of rural communities and enhance livelihood opportunities for women across the Union Territory.
Rakesh Magotra highlighted the Bank’s ongoing collaboration with JKRLM as integral to the government’s mission of inclusive growth. He noted that the Rs 100 crore milestone reflects the institution’s commitment to expanding access to credit and fostering a robust SHG ecosystem, enabling rural women to build and scale their businesses confidently.
The loan disbursement is part of J&K Bank’s broader agenda to promote financial inclusion, sustainable livelihoods, and women empowerment across Jammu and Kashmir. The initiative aligns with the government’s vision of enhancing economic self-reliance through targeted financial interventions for rural communities.
The SARAS Mela, organized by JKRLM under the aegis of DAY-NRLM, has provided a vibrant platform for women artisans and entrepreneurs from J&K and other states to showcase and market their crafts, handlooms, traditional products, and culinary art forms. The 11-day event has been instrumental in boosting visibility and commercial opportunities for rural women entrepreneurs.
