The valedictory function of 15 days Entrepreneurship Development Programme under Seed Capital Fund Scheme (SCFS)/ Youth Start Up Loan Scheme (YSLS) of Sher-e-Kashmir Employment and Welfare Program For Youth (SKEWPY) was held on 07 April at Jammu and Kashmir Entrepreneurship Development Institute Leh.  EC Agriculture Sonam Dorje was the Chief Guest and EC Tourism Mohd Shafi Lassu was the guest of honor at the occasion.
 
The training began from 20 April and concluded on 07 May.

Dorje Wangchuk, Executive Manager (P&A) Ladakh gave a detailed presentation about the 20 days training at EDI.
He said that out of 53 entrepreneurs, 46 successfully completed their training. He highlighted that funds under YSLS started in 2013 in Leh. Talking about the criteria for obtaining loans, he said under YSLS, education qualification needed is 12th or graduate, the age limit is between 18 and 32. The candidate must be unemployed, should be a State Subject of J&K and most importantly the candidate should be a first generation entrepreneur. “Under YSLS, the quantum finance is upto Rs 8 lakh and margin money is 10 percent of the project cost, rate of interest is 6.0 percent per annum, loan amount along with the interest of 6 percent per annum shall be repayable within a period of 5 years in 20 equal quarterly installments. For loans upto Rs. 4 lakh, the guarantee of a State Government or Bank Employee with a service of at least 6 years at his/her disposal. For loans above Rs 4 lakh, they need guarantee of two State Government employees or Bank employees with a service of at least 6 years at his/her disposal.

Under this scheme for 12th and graduate candidate, J&K Bank provides 35 percent of the project cost upto a maximum of Rs. 3 lakh, for post graduates 35 percent of the project cost upto a maximum of Rs. 5 lakh and for professionals 35 percent of the cost upto a maximum of Rs. 7.50 lakh.

Criteria are same for Seed Capital Fund Scheme as well.

He also added that unlike the previous training sessions, this year the entrepreneur were encouraged for simulation model like creative thinking, self esteem and problem solving. They were also trained for sell and risk management, supply and demand handling, accounting concepts and financial management and also field visit to DIHAR.
 
Speaking on the occasion EC Agriculture Sonam Dorje highlighted about the scope for entrepreneurs in the field of agriculture. He said, “Everyone cannot get a government job. Everyone must make efforts for one’s own livelihood and that can be done by becoming entrepreneurs. Through this people not only generate job for themselves but for others as well. Hard work, determination and expert guidance are the three keys to be a successful entrepreneur. There is a great scope for beans production, roasted barley and sea buckthorn in Leh”, he said.

EC Tourism Mohd Shafi Lasu appreciated the work of J&K Bank and also expected that others banks would also come forward to help entrepreneurs with different loan schemes. He also encouraged the entrepreneurs to take up organic farming as a business as it has a great demand in the national as well as international market.

Vinay Sahani, Vice President J&K Bank while highlighting the success of the bank in dispersing loans to the entrepreneurs said that J&K bank controls 65 percent of the total business of the State. He said that by the by the end of 2012 till 07 May 2015, 130 cases of SCSF was sanctioned, of which 87 cases were dispersed, 37 cases were returned due to the lack of completion of formalities by the entrepreneurs and 8 cases are going to be dispersed in this month. Under YSCS, 20 cases are dispersed, under NMDFC, 90 cases are dispersed and under HIMAYAT, 38 cases are dispersed.

Tsewang Phuntsog, Chief Horticulture Officer, Sonam Angchuk, District Agriculture Officer and T. Angmo, General Manager DIC was also present at the occasion.