Monday, August 15, 2022
  • CONTACT US
  • ABOUT US
  • TERMS OF SERVICE
Kashmir Glacier
  • News
    • Kashmir
    • Jammu
    • Ladakh
  • India
  • World
  • Sports
  • Business
  • Opinion
    • Editorial
    • Interview
  • Health
  • Weekly Edition
  • ePaper
No Result
View All Result
Kashmir Glacier
  • News
    • Kashmir
    • Jammu
    • Ladakh
  • India
  • World
  • Sports
  • Business
  • Opinion
    • Editorial
    • Interview
  • Health
  • Weekly Edition
  • ePaper
No Result
View All Result
Kashmir Glacier
No Result
View All Result
Home Business

JKIDFC to raise loan of Rs 2000 crore for funding languishing projects

News Desk by News Desk
January 10, 2022
in Business
0
Missing Kreeri Man Found Unconscious In His Vehicle, Hospitalised
0
SHARES
34
VIEWS
Share on FacebookShare on TwitterWhatsApp

 

Faizan Wani

Srinagar, Jan 10 (: In a significant move, the Jammu & Kashmir Infrastructure Development Corporation (JKIDFC), a special purpose vehicle (SPV) set-up for completion of languishing/unfunded projects in J&K, has decided to raise a loan of Rs 2000 crore to be availed in the remaining months of the ongoing financial year and the first quarter of the next fiscal.

To begin with, the JKIDFC has invited has invited expression of interest (EoI) from financial institutions for providing a long-term loan of Rs 2000 crore for funding languishing projects in the Union Territory. “Sealed expression of interest (EOI) is being invited from reputed RBI regulated banking and financial institutions/companies of the country, to submit written proposals for advancing loans of Rs. 2,000 crore to be availed during remaining months of the current financial year 2021-22 and Ist quarter of next financial year (2022-23),” reads the EoI, a copy of which is in possession of news agency—Kashmir News Observer (KNO).

The EoI was issued by the Corporation on January 3, 2022.

It is worthwhile to mention that the JKIDFC was set-up in 2018 by the J&K administration for funding unfinished/languishing infrastructure projects in the State.

The State Administrative Council (SAC) authorized it to raise a loan not exceeding Rs 8000 crores from various financial institutions including state/ nationalized banks for completion of these unfunded/ languishing projects.

As per mechanism approved by the SAC, a high-powered committee (HPC) comprising administrative secretaries of Finance, Planning, PWD and PHE besides administrative secretary of the concerned department were empowered to approve funding of projects under the scheme—(KNO)

  • Facebook
  • Twitter
  • email
  • Print

Share this...

Share this:

  • Facebook
  • WhatsApp
  • Twitter
  • Telegram
Previous Post

2022: 10 days, 10 encounters; 13 militants killed

Next Post

J&K Covid-19 Upsurges Continues With 1148 Fresh Cases

News Desk

News Desk

Related Posts

Amit lockdown, vegetable Prices soar in Kashmir
Business

Erratic weather, diseases hit vegetable produce in Kashmir

by News Desk
August 12, 2022
Govt. increasing quarantine, isolation facilities, enhancing testing capacity: Dr Sharma
Business

Govt to take action against officials for not submitting property details

by News Desk
August 12, 2022
Govt. increasing quarantine, isolation facilities, enhancing testing capacity: Dr Sharma
Business

Progressing J&K: Govt. establishes transparent recruitment system in J&K

by News Desk
August 8, 2022
CRPF man posted in Pulwama dies in Srinagar hospital
Business

Alok Kumar assumes charges as Director F&ES

by News Desk
August 6, 2022
WhatsApp to roll out payments service in India later this year
Business

WhatsApp bans over 22 lakh Indian accounts in June

by News Desk
August 2, 2022
Next Post
‘Death and Dying’ in COVID: Tribute to a Medico

J&K Covid-19 Upsurges Continues With 1148 Fresh Cases

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Covid-19 Pandemic: Kashmir witnesses austere and simple marriages

Covid-19 Pandemic: Kashmir witnesses austere and simple marriages

April 29, 2020
60 Candidates withdraw nominations, 388 in fray for phase-I in Anantnag

60 Candidates withdraw nominations, 388 in fray for phase-I in Anantnag

November 17, 2020

Don't miss it

Contractors using ‘poor-quality’ material in construction of roads to be blacklisted
Jammu

Contractors using ‘poor-quality’ material in construction of roads to be blacklisted

August 15, 2022
Encounter Starts In Kanigam Shopian
Jammu

Gunfight breaks out in Sujan Rajouri

August 14, 2022
Traffic Dept to launch special drive against traffic rules violations
Jammu

Traffic Dept to launch special drive against traffic rules violations

August 13, 2022
Two-day Regional Conference on Good Governance Practices concludes at Srinagar
India

India, NATO in touch for quite some time: MEA

August 12, 2022
Migrant woman in Bihar coronavirus isolation ward sexually abused, dies
Kashmir

J&K IMPARD Signs MoU with NICF New Delhi

August 12, 2022
Doctors give new lease of life to pregnant lady and her baby at Aakash Healthcare Delhi 
Health

As Govt cancels attachment orders of doctors, several health institutions in J&K face staff shortage

August 12, 2022

Facebook Page Like

Follow me on Twitter

My Tweets

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 42,515 other subscribers

© 2021 Kashmir Glacier - Premium news & magazine theme by GITS.

No Result
View All Result
  • News
    • Kashmir
    • Jammu
    • Ladakh
  • India
  • World
  • Sports
  • Business
  • Opinion
    • Editorial
    • Interview
  • Health
  • Weekly Edition
  • ePaper

© 2021 Kashmir Glacier - Premium news & magazine theme by GITS.

Join WhatsApp