Srinagar, Oct 20: Pursuant to recommendations made by the committee constituted by the government for proposing measures for relief and revival of the business sector in Jammu and Kashmir, read with clause 3.13.1.2.4 of the Jammu and Kashmir lndustrial Policy, 2021-30, issued vide Government Order No. 117-lND of 2021 dated 19.04.2021, J&K government has sanctioned the grant of 30% margin money of the soft loan lifted for revival of the Sick lndustrial Units under the scheme “Revival of Business Sector in Union Territory of Jammu and Kashmir.
According to the government order, a copy of which has been obtained by Ziraat Times, The grant of margin money is subject to the following conditions:
- The margin money of 30% shall be released once the soft loan is approved in favour of sick industrial unit by the Jammu & Kashmir BankLtd on the basis recommendations of lndustries & Commerce Department.
- The amount of margin money shall be placed directly at the disposal of Jammu & Kashmir Bank Ltd. instead of SIDCO for transfer to the loan account of the beneficiary industrial unit.
