Jammu, Feb 14: Jammu and Kashmir Trade Promotion Organisation (JKTPO), in collaboration with Jammu & Kashmir Bank, Saturday organised a UT level workshop on “Penetration of MFIs , NBFCs and FinTech companies for MSME financing under RAMP” at Jammu.
As pe a statement issued here, the workshop is part of the Raising and Accelerating MSME Performance (RAMP) Programme, a World Bank-supported Central Sector Scheme of the Government of India aimed at strengthening the MSME access to markets and credit while improving institutional governance and Centre-State collaboration.
The objective of the workshop was to set in motion the penetration of MFIs, NBFCs and FinTech companies for MSME financing under RAMP programme by introducing them to the MSME landscape of Jammu and Kashmir besides sensitizing them to the challenges faced by MSMEs in the Union Territory.
The workshop was aimed to digitally empower the MSMEs by connecting them to alternate sources of funding and fostering greater access to formal and technology-driven financial solutions. The senior government officials from Industries & Commerce Department, representatives from RBI, NABARD, Banking Institutions, 15+ leading NBFCs, MFIs, FinTech companies, Industry Leaders and MSME stakeholders participated in the event to deliberate on practical, scalable and technology-driven solutions to deepen credit penetration across the UT.
Commissioner Secretary, Industries & Commerce Department, Vikramjit Singh, graced the occasion as the chief guest. During his key address, the Commissioner Secretary underscored the pivotal role of MSMEs as engines of employment generation, regional equity and grassroots economic stability. He further stated that the J&K government is committed for building a resilient MSME credit ecosystem rooted in collaboration among the banks, NBFCs, MFIs and FinTech platforms under RAMP programme.
He further advocated for strengthened district level outreach and development of a time bound action plan with measurable outcomes. He described the workshop as a significant milestone in re-imagining credit delivery mechanisms in the Union Territory.
Sudershan Kumar, Managing Director, JKTPO underscored the strategic importance of MSMEs as the backbone of J&K’s economy, highlighting the predominance of micro enterprises and the corresponding need for flexible, doorstep-oriented credit models tailored to their realities. He emphasized that the workshop aims to move beyond deliberations and foster actionable collaboration frameworks among the stakeholders.
