Patna: BJP on Friday demanded immediate dismissal of Charanjit Singh Channi government for serious lapses in security of Prime Minister Narendra Modi during his visit to Punjab on Wednesday.
A delegation of BJP leaders submitted a memorandum to Bihar Governor Fagu Chauhan regarding breach in security of Prime Minister during his visit to Punjab. Serious security lapses forced Prime Minister to return to New Delhi without addressing a scheduled public meeting in Ferozepur, BJP leaders pointed out.
After submitting the memorandum, senior BJP leader and Road Construction Minister Nitin Naveen told medi persons that state governments concerned were responsible for providing security cover to PM during his visit to any state. Channi government of Punjab had failed to provide proper security cover to PM which could not be accepted in federal structure of a democratic country, he added.
Naveen said that there was widespread anger among the people across the country over security breach during PM’s visit to Punjab. Delegation
of BJP leaders had urged governor to send their memorandum to President in which demand had been made for immediate dismissal of Channi government of Punjab, he added.
The BJP leader expressed his concern over Congress indulging in “petty politics” over the sensitive issue of the security of the Prime Minister. The Congress’ behaviour and ‘insensitivity” of the Channi government towards security of PM were instances of “anti national” activities, he remarked.
The Prime Minister had returned to New Delhi without addressing a scheduled public meeting in Ferozepur during his visit to Punjab on Wednesday as his motorcade got stuck on the flyover for 20 minutes. The PM cancelled his scheduled public meeting when even after waiting for 20 minutes to get the blockade cleared, protesting farmers did not retreat from the road through which PM was to go to the public meeting venue in Ferozepur.
PM security breach: BJP demands dismissal of Channi government
JK Govt formulates Rules for ‘outstanding sportspersons’: Farooq Khan
Rules stipulates appointment of sportspersons to gazetted, other jobs
Jammu: The Jammu and Kashmir Government has issued Jammu and Kashmir Appointment of Outstanding Sportspersons Rules, 2022 through a notification by the General Administration Department.
In a press conference held today, Advisor to Lieutenant Governor and Vice Chairperson JK Sports Council, Farooq Khan formally announced the new Rules, which have been framed under the aegis of Lieutenant Governor and Chairperson JKSC, Manoj Sinha.
Under the Rules, outstanding sportspersons, holding domicile of J&K, would be eligible to be appointed against gazetted (Level 8) and other non gazetted posts. Detailed grading system has been mentioned in the notification which would help rank sportspersons applying under the quota.
Advisor informed that sportspersons from 44 recognized sports would be considered under the rules. Besides, 5 outstanding sportspersons would be appointed at gazetted posts, while another 25 would be appointed to non-gazetted posts every year, he added. All backlogs under this quota, since 2014,would also be cleared, he clarified.
Moreover, the gazetted officers would be given one ‘out of turn’ promotion, while the non-gazetted officers would be given two ‘out of turn promotions’ throughout their service career.
They are also eligible for 5 special salary increments throughout their career.
It was informed by the Advisor that selection under the rules would be done by a high level committee headed by Chief Secretary and consisting of Home Secretary, Secretary Youth Services and Sports, Secretary GAD and Secretary Sports Council.
Advisor hailed the rules and said that through the rules, a framework has been established in which sports persons with outstanding achievements would be ranked objectively thereby eliminating chance of favouritism or prejudice.
Farooq Khan termed the rules as “incentive, not welfare” and added, “it is our way of acknowledging sports talent and their achievements”.
‘Sportspersons would be able to submit applications to the JK Sports Council which would forward the cases to the high level committee. The committee is permanent in nature and would verify and approve the appropriate cases within 3 months period, preferably around the month of March’, informed the Advisor.
Olympics, Winter Olympics as well as Paralympics have been given the greatest weightage under the selection criteria. Such Olympians can score a maximum 60 marks, (including participation and winning medals). Mere one-time participation accounts for 46 marks under the rules. Maximum marks have been set as 100.
Similar marking system has been formulated for other national and international sports events like Asian Games, Commonwealth Games, World Cups, World University Games, International Cricket Matches, National Sports Championships, Inter-Zonal Championships, Senior National Championships etc under the rules.
For gazetted posts, minimum education qualification has been set as Graduation with only exception for Olympics medallists for whom the criteria has been set as class 12 or above.
Advisor said that government is trying to incentivize and promote sports culture in J&K through such measures. ‘A number of sports infrastructure projects have been completed and many others are nearing completion here. Every district has at least one indoor sports stadium for encouraging participation in sports, he added.
The government is establishing state of the art sports stadia all over J&K. The football stadium at Parade Ground Jammu is also about to complete, informed the Advisor.
While answering questions by the mediapersons, Advisor informed that the government is working to inculcate sports culture at village level and has already ensured that each panchayat has one sports ground and minimum possible equipment. Besides, grant of Rs 25 thousand per panchayat has already been given in this regard, he told. He also assured of setting up an indoor sports facility at Jagti and other sports facilities at Purkhoo and Muthi camps at Jammu.
Secretary J&K Sports Council, Nuzhat Gul, was also present in the press conference.
Covid shadow on trade
In the last few days, there has been spurt in daily covid-19 cases across India. Many states or UTs have already enforced restrictions of varying degrees. There is an additional threat to tackle this time due to the Omicron variant of the Sars-CoV-2 virus which is driving the higher cases in most parts of the globe. It already threatens to hit the economic activities.
The experience of the first and second waves shows that lockdowns – national or state level – have caused irreparable damage to millions of livelihoods.
With the rise in cases, there is going to be a fresh slowdown. It could be worse than expected as economic activities are bound to take a hit in view of the restricted inter-state and intra-state movement of people. The sharp rise in the caseload, particularly of the Omicron variant, has already prompted several states to enforce restrictions.
The administration in J&K has already restricted non-essential movement from 9 pm to 6 am in the entire J&K till further orders amid spike in cases—418 reported on Wednesday and 349 on Thursday alone with active case tally crossing 2000 mark after a long hiatus.
A traders body here said that an analysis of the spread of 3rd Covid Wave in Jammu & Kashmir can be directly linked to ignoring prescribed protocols by certain individuals.
“Now, after the previous lockdown stands squandered away and Kashmir is in a worse situation than ever before.” it said. The society is facing the threat of 3rd Covid Wave and the need of the hour is to collectively and sensibly fight it.
Chief Secretary a couple of days ago chaired a meeting and among others asked the Health and Medical Education Department to scale up testing to reach a target of 2 lakh tests per day with a proportional increase in RtPCR tests.
He also asked the department to ramp up medical facilities and prepare for catering to any surge in reported cases of infections. Besides, he asked the department to stock up on medical supplies and keep all equipment, machinery, and infrastructure in a state of readiness.
If there is continuous increase in cases, the government may be pushed to take some strict measures in terms of curbs. However, as has been urged by the traders’ body, the same should be done in consultation with traders and business community besides other stakeholders.
Weatherman forecast heavy snow spell
6 flights cancelled at Sgr airport
Srinagar: While weather improved after two days of wet spell in Jammu and Kashmir as well as Ladakh on Thursday, a fresh spell of “heavy to very heavy” rain and snow spell has been forecast from January 7 evening.
Moreover, six flights were cancelled today at Srinagar international airport in wake of the poor visibility due to the prevalent weather conditions.
According to the meteorological department here, the weather system was likely to affect surface and air transportation on the weekend. “As expected, weather improved significantly in J&K and Ladakh,” an official of meteorological department here said.
“Another spell of intense precipitation (heavy to very heavy) rain and snow is most likely during January 7(evening/night) to January 8th,” he said, adding, “There would be gradual improvement from 9th onwards in J&K.”
Regarding the probable impacts, he said, the weather system may affect surface and air transportation on January 8th.
“It may cause avalanches/landslides in vulnerable spots.” He urged people not to venture in avalanche prone areas given the fact that data shows most avalanches are triggered during intense heavy snowfall.
He also urged people to follow traffic advisory seriously and maintain proper ventilation in their rooms.
Meanwhile, the official here said that Srinagar recorded rain and snowfall of 12.9mm in last 24 hours till 0830 hours today. However there was no accumulation on ground.
The summer capital of J&K, he said, recorded a low of 0.3°C against previous night’s 0.8°C. It was 2.2°C above normal for this time of the year in Srinagar, he said.
Kashmir is presently under the grip of 40-day long harshest period of winter, known locally as ‘Chillai Kalan, which started from December 21. It is followed by a 20-day long ‘Chillai Khurd’ and a 10-day-long ‘Chilla Bachha’.
Gulmarg, which had nearly 3ft of fresh snowfall in last couple of days, recorded a low of minus 3.4°C against minus 4.0°C on the previous night at the world famous resort, he said.
Qazigund, the gateway town of Kashmir, had 18-cm of snow in the last 24 hours till 0830 hours while it recorded a low of 0.4°C against 0.8°C on the previous night, he said.
Pahalgam, the famous resort in south Kashmir which had around 1-ft of fresh snowfall, recorded a low of minus 0.8°C against minus 0.4°C on previous night, he said.
Kokernag, also in south Kashmir, had 11cm of snow during the last 24 hours even as it recorded a low of minus 0.7°C against 0.4°C on previous night, the official said.
Kupwara town in north Kashmir, having snow depth of around 8 inches of snowfall, recorded a minimum of 0.0°C, same as on the previous night, the official said.
Reports reaching here said that Bandipora-Gurez road remained closed with over 2.0ft of snow at Razdan top, 2ft at Tulail and 1.5ft at Dawar.
Machil, Karna and Keran roads in Kupwara district also remained closed as higher reaches of north Kashmir district received 2-4ft of snow.
Jammu, having 48mm of rainfall in 24 hours till 0830 hours, recorded a low of 10.3°C, down by 1.3°C from the previous night and normal of 7.3°C for the J&K’s winter capital during this time of the year, he said.
He said Banihal had 12cm of snowfall, Batote 0.6cm and Bhaderwah 3cm during the time.
Ladakh’s Leh recorded a low of minus 7.6°C against last night’s minus 7.3°C while Kargil station recorded a minimum of minus 7.6°C, the official said.
Moreover, the officials at Srinagar airport informed that six flights out of 45 scheduled for today have go cancelled due to poor visibility while rest were operated normally.( With inputs from GNS)
Unemployment rate in J&K decreased to 15% in Dec 2021: Govt
CS reviews functioning of L&E deptt
Jammu: Chief Secretary, Dr. Arun Kumar Mehta chaired a meeting to review the functioning of the Labour and Employment Department in Jammu and Kashmir.
Commissioner Secretary, Labour & Employment Department, Chief Executive Officer, J&K Building and Other Construction Workers Welfare Board, Labour Commissioner, and other officers of the Department attended the meeting.
The Chief Secretary observed that as per the CMIE data, the unemployment rate in Jammu and Kashmir has decreased to 15% in December 2021, and impressed upon the Department to further improve employment avenues in the Union territory.
It was informed that the Labour Department, upon formal registration, provides benefits to building workers, factory workers, migrant contractors, migrant labour, contract labour, shop workers, and boiler workers. The Department also adjudicates cases under the Workmen Compensation Act, Payment of Wages Act, Industrial Dispute Act, Minimum Wages Act, Payment of Gratuity Act; and provides relief to the aggrieved labour.
The Department was asked to boost registrations under various categories of workers by adopting digitized registration processes without human interference, within one month, besides, ensuring early resolution of conflicts through district labour courts through automated court proceedings.
The Department was asked to collaborate with other stakeholders including government departments to identify and register sector-wise eligible workers in a mission mode.
It was informed that the Department has so far registered 10,95,404 workers with 41.50% female and 58.49% male workers engaged in the unorganized sector. The agriculture, construction, household worker, apparel, healthcare, transport, and handicraft sectors continue to see high registration rates followed by tourism, retail, education, and manufacturing.
Regarding the ease of access to benefits under various social security schemes for construction workers, it was informed that through departmental convergence under the e-Shram portal, the registration information is being accessed by multiple departments and agencies for ensuring timely disbursement of benefits to the verified beneficiaries.
As a part of its relief efforts, the Labour Department evacuated 48,780 migrant workers through 33 special shramik trains and provided all basic facilities including medical screening, masks, drinking water, and food, free of cost during the COVID-19 lockdown.
Under the Employees State Insurance scheme, the workers are being provided medical-cum-accidental insurance, in addition to privileged access to the Department’s worker-dedicated hospital and dispensaries at Rangreth, Khanmoh, BAM Khan and Zainakot in Kashmir province, and Talab Tillo, Kathua, Bari-Brahmana, and Digiana in Jammu province. So far, an amount of Rs. 6.05 crore has been disbursed as medical reimbursement in favour of the registered workers.
The Chief Secretary directed the Department to develop the hospital and dispensaries as model healthcare institutions and further link the registered beneficiaries with benefits under other insurance schemes as well including Ayushman Bharat and Pradhan Mantri Surakhsha Beema Yojana to ensure maximum health benefits and accidental cover to workers. He further directed the rollout of an extensive IEC campaign to generate awareness on these schemes and benefits to further boost registrations.
Moreover, the Building and Other Construction Workers Welfare Board is also providing assistance in cases of temporary and permanent injury, chronic disease, maternity benefits, death/funeral assistance, and educational assistance to all registered workers. The Department was asked to scale up distribution of benefits under these schemes and ensure extension of educational assistance to cover approximately 4 lakh children of the registered workers, besides ensuring disbursement of funeral assistance within a week from the date of application.
During COVID-19, the Board provided financial assistance of Rs. 50.03 crore to 1,56,876 registered active Building and Other Construction Workers in four installments of Rs. 1,000 each during 2020-21, and Rs. 70.55 crore to 3,43,405 registered workers during 2021-22.
While reviewing the functioning of the Employment Department, the Chief Secretary directed greater technological interventions along with deeper inter-departmental convergence and consultations for systemized registration, skilling, and employment of the youth. The Department was advised to tie up with Mission Youth and Skill Development Department for this purpose.
In a bid to move towards evolving a model career scheme, the Department was also asked to develop standardized career-counseling modules in consultation with the field experts and other stakeholders and explore facilities for online mentor programmes to provide wide-scale guidance and assistance, especially during the COVID times. It was directed to emphasize automation of services and conduct of regular job fair to streamline employment generation.
L&E Deptt to adopt digitized registration processes within one month: CS
Jammu: Chief Secretary, Dr. Arun Kumar Mehta chaired a meeting to review the functioning of the Labour and Employment Department in Jammu and Kashmir.
Commissioner Secretary, Labour & Employment Department, Chief Executive Officer, J&K Building and Other Construction Workers Welfare Board, Labour Commissioner, and other officers of the Department attended the meeting.
The Chief Secretary observed that as per the CMIE data, the unemployment rate in Jammu and Kashmir has decreased to 15% in December 2021, and impressed upon the Department to further improve employment avenues in the Union territory.
It was informed that the Labour Department, upon formal registration, provides benefits to building workers, factory workers, migrant contractors, migrant labour, contract labour, shop workers, and boiler workers. The Department also adjudicates cases under the Workmen Compensation Act, Payment of Wages Act, Industrial Dispute Act, Minimum Wages Act, Payment of Gratuity Act; and provides relief to the aggrieved labour.
The Department was asked to boost registrations under various categories of workers by shifting to complete digital mode within a period of one month. Taking note of pendency in cases filed before District Labour Courts, the Chief Secretary directed the immediate implementation of digital court proceedings for early resolution of conflicts.
Further, the Department was asked to collaborate with other stakeholders including government departments to identify and register sector-wise eligible workers in a mission mode.
It was informed that the Department has so far registered 10,95,404 workers with 41.50% female and 58.49% male workers engaged in the unorganized sector. The agriculture, construction, household worker, apparel, healthcare, transport, and handicraft sectors continue to see high registration rates followed by tourism, retail, education, and manufacturing.
Under the Employees State Insurance scheme, the workers are being provided medical-cum-accidental insurance, in addition to privileged access to the Department’s worker-dedicated hospital and dispensaries at Rangreth, Khanmoh, BAM Khan and Zainakot in Kashmir province, and Talab Tillo, Kathua, Bari-Brahmana, and Digiana in Jammu province. So far, an amount of Rs. 6.05 crore has been disbursed as medical reimbursement in favour of the registered workers.
The Chief Secretary directed the Department to develop the hospital and dispensaries as model healthcare institutions and further link the registered beneficiaries with benefits under other insurance schemes as well, including Ayushman Bharat and Pradhan Mantri Surakhsha Beema Yojana to ensure maximum health benefits and accidental cover to workers. He further directed the rollout of an extensive IEC campaign to generate awareness on these schemes and benefits to further boost registrations.
Moreover, the Building and Other Construction Workers Welfare Board is also providing assistance in cases of temporary and permanent injury, chronic disease, maternity benefits, death/funeral assistance, and educational assistance to all registered workers.
The Chief Secretary observed that the coverage of beneficiaries is not adequate as of now and directed the Department to scale up the distribution of benefits under these schemes. It was asked to ensure the extension of educational assistance to cover approximately 4 lakh children of the registered workers, besides ensuring time-bound disbursement of funeral assistance to the registered workers, preferably within a week.
During COVID-19, the Board provided financial assistance of Rs. 50.03 crore to 1,56,876 registered active Building and Other Construction Workers in four installments of Rs. 1,000 each during 2020-21, and Rs. 70.55 crore to 3,43,405 registered workers during 2021-22.
While reviewing the functioning of the Employment Department, the Chief Secretary directed greater technological interventions along with deeper inter-departmental convergence and consultations for systemized registration, skilling, and employment of the youth. The Department was advised to tie up with Mission Youth and Skill Development Department for this purpose.
In a bid to move towards evolving a model career scheme, the Department was also asked to develop standardized career counseling modules in consultation with the field experts and other stakeholders and explore facilities for online mentor programmes to provide wide-scale guidance and assistance, especially during the COVID times. It was directed to emphasize automation of services and conduct regular job fairs to streamline employment generation.
Regarding the ease of access to benefits under various social security schemes for construction workers, it was informed that through departmental convergence under the e-Shram portal, the registration information is being accessed by multiple departments and agencies for ensuring timely disbursement of benefits to the verified beneficiaries.
3 die as 349 test positive for Covid-19 in J&K
By: Nadeem Nadu
Srinagar: For the second consecutive in a row, Jammu and Kashmir recorded higher number of cases with 349 of them confirmed in the last 24 hours along with three deaths due to the virus, officials said on Thursday.
202 of the fresh cases were reported from Jammu division and 147 from Kashmir, taking the overall tally to 342768.
There were three deaths reported due to the virus, two from Jammu and one from Kashmir, during the last 24 hours, they said. So far 4533 persons—2201 in Jammu and 2332 in Kashmir—have died due to the virus, they said.
Giving district wise details of the fresh cases, the officials said that Srinagar reported 80 cases, Baramulla 21, Budgam 16, Pulwama 9, Kupwara 6, Anantnag 0, Bandipora 9, Ganderbal 5, Kulgam 0, Shopian 1, Jammu 119, Udhampur 14, Rajouri 8, Doda 7, Kathua 7, Samba 2, Kishtwar 4, Poonch 13, Ramban 1 and Reasi 33.
Moreover, 116 Covid-19 patients recovered during the time, 32 from Jammu Division and 84 from Kashmir, they said.
So far 336186 patients have recovered, leaving active case tally at 2049—1062 in Jammu and 987 in Kashmir.
They said there was no new confirmed case of mucormycosis (black fungus) reported today. So far 51 black fungus cases have been confirmed in J&K, the officials said.
They also informed that 98575 doses of covid-19 vaccine were administered during the time in J&K. (GNS)
4 former J&K CMs, 15 family members lose SSG cover
Home deptt directs ADGP security to reduce strength of SSG
By: Nasir Azam
Srinagar: The administration of Jammu & Kashmir has decided to withdraw the special security group (SSG) cover to four former chief ministers and their 15 immediate family members.
Sources said that the administration of the UT has decided to withdraw SSG cover to former chief ministers Farooq Abdullah, Omar Abdullah, Mehbooba Mufti, Ghulam Nabi Azad and their immediate family members.
“A decision to this effect was taken in the security review coordination committee (SRCC) meetings held on July 18, 2021 and September 19, 2021,” they said, adding that all four ex-CMs and their 15 immediate family would no longer have SSG security cover.
According to sources, only sitting chief ministers of Jammu & Kashmir are entitled to have SSG cover after the Union Home Ministry amended The Jammu and Kashmir Special Security Group Act-2000 on March 31, 2020.
The amendments made in the law state that only sitting chief minister and his/her immediate family members are entitled for SSG security cover.
A letter accessed by KNO reveals that J&K’s Home department has written to ADGP security on December 31, 2021 that the competent authority has also approved the proposal right-size the SSG.
In the letter, the ADGP has been directed to reduce the posted strength of SSG to the bare minimum, preferably headed by a deputy superintendent of police, for maintaining continuity.
He has also been asked to post a suitable number of personnel in the security wing for close proximity team (CPT).
“These personnel will continue to receive allowance (25% of basic pay) as at present,” the communique states.
The ADGP has also been directed to post the remaining SSG personnel to other wings to make the best use of their knowledge/training expertise. “All the resources (including vehicles, access control gadgets, etc.) of the SSG, except such resources as may be required by SSF, be transferred to the security wing,” the letter states.
The SSG was created through a law enacted by the Jammu & Kashmir’s legislature in 2000 when Farooq Abdullah was heading the government.
On April 24, 2002, the Home department unveiled the operational structure and arrangements for implementation of the law.
Before enactment of the law, the security of former CM was governed by the rules and standing operating procedure issued by CID wing of J&K police in October 1996. (KNO)
2 militants as many OGWs arrested in Sgr: Police
Srinagar: Jammu and Kashmir police Thursday claimed to have busted a TRF/Mujahideen Gazwatul Hind module by arresting two militants and two Over Ground Workers (OGWs) in Barzulla area of Srinagar.
Addressing a press conference in Srinagar, Deputy Inspector General of Police Central Kashmir range, Sujit Kumar Singh said that two militants and two OGWs were arrested during a joint naka laid by police and CRPF at Barzulla bridge in Srinagar.
“The arrested militants and OGWs were affiliated with TRF/MGH, which are off-shoots of LeT and JeM,” he said.
He said the arrests came as part of the investigations being conducted into the killing of a property dealer Rouf Ahmed in Safa Kadal area on December 12, 2021.
“During the course of investigation, movement of some suspects was detected in Srinagar City. Based on further analysis and credible human intelligence, Srinagar Police detected suspicious movement of militants in Bhagat Barzulla area,” said DIG Singh, who was flanked by SSP Srinagar Rakesh Balwal.
The DIG Singh said that the arrested militants have been identified as Suhail Qadir Khanday S/o Ghulam Qadir Khanday, resident of Tral, Pulwama, an active militant, R/O Tral pulwama and Suhail Mushtaq S/o Mushtaq Ahmed Waza, a resident of Niklora, also an active militant.
He said that during the search, two pistols along with two pistol magazine and 30 pistol bullets were recovered on spot. “On further questioning of militants, arms and ammunition including two pistols, six pistol magazines, 69 rounds, two pistol silencers have been recovered from their hideout in Srinagar city,” the DIG said, adding that in total four pistols, eight pistol magazines, 99 live rounds, two pistol silencers have been recovered in the case.
He said that the arrested militants also revealed names of two OGWs who were also arrested. The OGWs were identified as Basit Bilal Makaya S/O Bilal Ahmed Makaya R/O Qamar Abad Qamarwari, Srinagar and Naikoo Imad Nasar S/O Farooq Ahmed Kilora, Shopian, the police officer said.
He said that in this connection, a case under FIR number 08/2021 of Saddar PS under sections 7/25 of the arms act and sections 18,23 of UAP Act has been registered in PS Saddar.
The DIG said that during the questioning, the arrested militants disclosed that they were operating in Srinagar city on the direction of one person namely Asif Maqbool Dar R/O MIG Colony Bemina at present Damam, Saudi Arabia and Sajjad Gul R/O HMT Parimpora at present Pakistan.
“Both the handlers from Saudi Arabia and Pakistan were providing them weapons and money through a network of OGWs being identified. This module has also done recce of security installations like NIA office, Delhi Police Headquarters etc. and shared same with handlers in Pakistan,” the DIG said, adding that “As per the investigation the targets in city for killings were also selected and conveyed to them by Dr Asif and Sajad Gul. Suhail Qadar Khanday was working in Saudi Arabia with Dr Asif and in August 2021 on the direction of Dr Asif he came back and started working as an operative of TRF/MGH/ for coordinating the collection of Arms/Ammunition, money and militant attack in Srinagar City.” (KNO)
Efforts on to increase exports from region: KCC&I
Srinagar: The Kashmir Chamber of Commerce & Industry (KCC&I) and India Exim Bank held a virtual meeting regarding Export and Import bank of India.
According to a statement, the meeting was attended by Sheikh Ashiq Ahmad, President, Office Bearers and other members of KCC&I.
In this virtual meeting presentation was given by Virendra Mongia, Regional Head, India Exim Bank regarding Bank’s new Initiatives & other programs.
Virendra Mongia briefed about the History and future programme/collaboration of the Bank.
He stated that India Exim Bank established under an act of Parliament is the country’s Export Credit Agency, providing Medium and Long-Term (MLT) facilities mainly in Foreign Currency to sovereign governments, parastatal agencies, Indian Exporters / Companies. India Exim Bank offers financing under various programmes to promote exports from the country.
India Exim Bank has taken/is in the process of taking, certain new initiatives towards (i) supporting SMEs and (ii) boosting exports from the country, by a collaborative association with the Indian FIs / Scheduled Commercial Banks (SCBs) / other stakeholders like Export Promotion Councils and Trade & Industry Associations as detailed below:-
- Trade Assistance Programme (TAP): India Exim Bank, under this programme, would provide support by offering credit enhancement to trade instruments (Letters of Credit, Bid bond / Performance / Advance Payment Guarantees etc.) to the Public Sector Banks (PSB), by offering transaction-specific partial or full guarantees to cover payment risk of banks in the least developed / developing countries (specifically in Africa, South America, CIS countries) markets.
- Ubharte Sitaare Programme (USP): India Exim Bank has launched the USP to identify and support Indian companies that are future champions with good export potential in order to build globally competitive companies. The identified Indian companies supported under the Programme exhibit a latent advantage by way of a differentiated technology, product or process.
- Factoring: The Government of India has recently amended the Factoring Act (the Factoring Regulation (Amendment) Act, 2021). The Act aims to bring in more players in the field of factoring and receivable financing. The Bank is setting-up a Factoring venture. Further, Banks and PSUs have already been mandated by the Government to be registered in Trade Receivables.
- Countertrade: Countertrade refers to the exchange of goods and services in whole or part, with other goods and services as payment, rather than with money. Countertrade can be an important mode of international transactions for countries facing currency or payment challenges. It involves trading arrangements between private firms and/or government entities, such as foreign trade organizations, by which the seller is obligated to accept, as a partial or total settlement for his exports of goods (or in some instances services, such as technology or industrial licenses), specified goods or services, from the buyer.
President, Sheikh Ashiq Ahmad stated that the India Exim Bank should organize meetings and physical awareness camps in collaboration with KCC&I in future so that we can encourage young entrepreneurs, women entrepreneurs and all export businesses so that the present poor condition of exports gets improved in coming years.
Ashiq also stressed on the role of young entrepreneurs in the export sector and various benefits for earnings in foreign exchange. It is pertinent to mention here that our exports from J&K have declined to around 600 Crores which is worst performance in the last few decades. President appealed all the members present in the meeting to use their good offices for promotion of Exports from the region
Farooq Amin, Secretary General, KCC&I presented vote of thanks to all the officials and Virendra Mongia, Regional Head, India Exim Bank, members of KCC&I for sharing such fruitful information and giving time for the betterment of the trade Community of J&K.
