Srinagar, June 19: Advisor to Lieutenant Governor, Rajeev Rai Bhatnagar Monday said Jammu and Kashmir Scheduled Castes, Scheduled Tribes, and Backward Classes Development Corporation (JKSCSTBCDC) was established with the vision of uplifting marginalized communities and promoting inclusive growth.
He lauded the corporation's crucial role in implementing government schemes and welfare programs for the betterment of Scheduled Castes, Scheduled Tribes, and Backward Classes.
The Advisor reaffirmed the government's unwavering commitment to the welfare and development of these communities.
He was chairing the 42nd Board of Directors (BoDs) meeting of Jammu and Kashmir Scheduled Castes, Scheduled Tribes, and Backward Classes Development Corporation (JKSCSTBCDC) at Civil Secretariat.
The meeting was attended by Commissioner Secretary, Social Welfare Department, Sheetal Nanda; Managing Director, National Safai Karamcharis Finance and Development Corporation, Prabhat Kumar; Managing Director, JKSCSTBCDC, Ulfat Jabeen, representatives of finance department, National Scheduled Castes Finance and Development Corporation, National Handicapped Finance and Development Corporation and other members of the board, both in person and through video conferencing.
The meeting extensively discussed key agenda items, encompassing financial performance, monitoring and evaluation mechanisms, and the identification of potential areas for the corporation's further growth and development. Additionally, the Board thoroughly examined the Action Taken Report of decisions made in the previous Board of Directors meeting.
During the meeting, Advisor Bhatnagar urged the corporation's management to identify more beneficiaries in the current financial year, ensuring maximum people can benefit from the implemented schemes. He also stressed the importance of devising a concrete plan to recover loans from defaulters.
The Board made significant decisions to enhance the overall functioning of the corporation. This included approving the draft accounts for the Financial Years 2021 and 2022, and authorizing the Managing Director of JKSCSTBCDC to file e-forms with the Registrar of Companies. Furthermore, the Board decided to charge interest as per the apex corporation from beneficiaries.
Another key decision was for the corporation to collaborate with J&K Bank in developing software for efficient loan management of the beneficiaries.
During the meeting, the Financial Advisor of JKSCSTBCDC presented a detailed overview of the corporation's achievements. It was highlighted that the corporation facilitated 30,333 beneficiaries from SC, ST, and BC communities under the Bank tie-up scheme, as of March 2023. Similarly, the Direct Financing scheme assisted 41,383 beneficiaries.
The Financial Advisor also disclosed that a subsidy amount of Rs. 17.41 crore and a bank loan amount of Rs. 75.47 crore were disbursed under the Bank Tie-up scheme, while a loan amount of Rs. 320.52 crore was disbursed under the Direct Financing scheme, up until March 2023.
