Srinagar, Oct 08: Dr Hina Shafi Bhat, Vice Chairperson,
J&K Khadi Village and Industries Board (KVIB) Saturday
submitted a cheque of Rs 180.41 lakh to be refunded to
Khadi Village and Industry Commission (KVIC) to
Lieutenant Governor Manoj Sinha, at the Raj Bhavan.
On the occasion, the Lt Governor appreciated the
endeavours of the J&K KVIB in providing training,
technology and infrastructure support required for
growth of Handicraft and local manufacturing units in the
Union Territory. He also lauded the efforts of artisans,
new entrepreneurs for strengthening village industries to
ensure all-round development and self-sustainability of
Jammu Kashmir.
“KVIB has harmoniously blended modern technology &
business practices with tradition and making immense
contribution in wealth and job creation. Handicraft
clusters, manufacturing and service units at the village
level will significantly contribute to the growth and
earnings of artisans,” the Lt Governor said.
J&K Khadi and Village Industries Board is among the
leading Boards in the country which have cleared
pending liabilities with the KVIC. The amount will be
refunded to Khadi & Village Industries Commission,
Ministry of MSME, GoI, which borrows funds from the
consortium of banks and in turn releases it to the Boards
on bankable interest rates enabling them to carry
forward the schemes approved by the commission.
J&K Khadi & Village Industries Board had borrowed Rs
734.63 lakh from the Commission under Consortium
Bank Credit (CBC) in order to finance the Khadi
institutions and rural artisans in the UT. The board had
already refunded Rs 671.39 lakh and the latest refund of
Rs 180.41 lakh will liquidate the whole liability of J&K
KVIB on account of CBC funding, including the accrued
interest.
Pertinently, the J&K KVIB is observing a fortnightly long
programme under the theme ‘Gandhi Katha' to promote
Gandhian philosophy and principles.
