JAMMU, FEBRUARY 14: Jammu and Kashmir Trade Promotion Organisation (JKTPO), in collaboration with Jammu & Kashmir Bank, today organized a UT level workshop on “Penetration of MFIs , NBFCs and FinTech companies for MSME financing under RAMP at Jammu Tawi Golf Course, Sidhra.
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.
Addressing the workshop, Chandra Shekhar Azad, Regional Director, Reserve Bank of India, emphasized the pivotal role of a robust and inclusive financial system in driving sustainable MSME growth in J&K.
Addressing the gathering, Vikas Mittal, General Manager/ Officer-in-Charge, NABARD, underscored the critical importance of strengthening the MSME credit ecosystem in J&K through district-focused interventions. He commended the Jammu & Kashmir administration and Jammu and Kashmir Trade Promotion Organisation for organizing a forward looking workshop under the RAMP Programme. He also stressed the importance of digital onboarding and district-level awareness drives to ensure that entrepreneurs are not only credit-linked but also digitally empowered.
Sunit Kumar, Chief General Manager, J&K Bank, highlighted the evolving MSME credit landscape in Jammu & Kashmir. He stressed for encouraging growth in formal credit penetration over recent years while acknowledging persistent structural gaps, particularly among micro and first-generation enterprises. He strongly advocated for structured co-origination and co-lending partnerships between banks, NBFCs and MFIs to optimize risk-sharing, improve last-mile outreach and enhance the credit delivery efficiency. He reiterated J&K Bank’s commitment to spearhead such collaborative frameworks under the RAMP programme and assured stakeholders that the Bank would actively facilitate ecosystem partnerships, support district-level outreach initiatives to build a sustainable, inclusive and technology-enabled MSME credit architecture in Jammu & Kashmir.
The workshop featured a series of focused deliberations on strengthening MSME financing in Jammu & Kashmir, culminating in a forward-looking roadmap to deepen credit penetration, enhance digital enablement and foster structured collaboration among Banks, NBFCs, MFIs, and FinTechs.
Key outcomes included identifying priority sectors and districts, promoting collaborative lending, district-level awareness and capacity-building initiatives, and forming a Joint Working Group under RAMP, formalized via a workshop Resolution/Action Charter.
The JKTPO remains committed towards supporting and empowering the MSMEs in all possible ways, through sustained policy facilitation, capacity building, market linkages and improved access to finance.