Category: BUSINESS

Srinagar, April 27: A high-level delegation of Chartered Accountants (CAs) and Company Secretaries (CSs) on Monday met Regional Director (Northern Region), Ministry of Corporate Affairs, Ramesh Mishra, and Registrar of Companies (J&K and Ladakh), Syed Hamid Bukhari, to deliberate on key corporate governance and regulatory issues affecting the Union Territory.

A handout said: The delegation—represented by CA Saqib Ali Jan, CS Waseem Jahangir and CS Syed Amir Ali—held detailed discussions focused on strengthening the region’s corporate ecosystem while balancing regulatory compliance, ease of doing business, and investment promotion.

A central issue raised was the need for a special compliance facilitation framework for enterprises operating in geographically challenging and emerging regions like Jammu & Kashmir. The delegation advocated a more facilitation-oriented regulatory approach to support first-generation entrepreneurs and small businesses in meeting requirements under the Companies Act.

Emphasising corporate formalisation as a driver of economic development, the participants called for greater adoption of company and LLP structures across sectors such as tourism, horticulture, handicrafts, renewable energy, and producer enterprises. They noted that formal corporate structures could significantly improve governance standards, investment inflows, and employment generation.

The discussions also underscored the role of strong corporate governance in building investor confidence. The delegation highlighted that regulatory certainty, transparency, and robust governance practices are essential to position Jammu & Kashmir as an emerging investment destination.

Capacity building and institutional collaboration emerged as another key theme, with proposals for joint initiatives involving the Ministry of Corporate Affairs, professional institutes, and industry stakeholders to enhance awareness on company law compliance, startup governance, and board responsibilities.

Concerns were also raised over the migration of startups from the region, with many founders opting to incorporate outside Jammu & Kashmir. The delegation suggested measures to strengthen the local incorporation ecosystem and retain entrepreneurial activity within the Union Territory.

Other issues discussed included MSME stress resolution, insolvency preparedness, increased deployment of CSR towards regional development, and the need for ESG and sustainability readiness among emerging businesses.

The delegation further proposed developing Jammu & Kashmir as a model region for facilitation-led, governance-driven corporate regulation, including the idea of a dedicated Corporate Governance and Ease of Doing Business Roundtable involving regulators, professionals, and industry stakeholders.

The Regional Director and the ROC appreciated the suggestions, emphasising the importance of continuous stakeholder engagement in fostering a robust compliance culture. They encouraged sustained dialogue between regulators and professionals to promote a progressive corporate environment.

“Delegation members described the meeting as productive, reflecting a shared commitment to strengthening corporate governance, enhancing investor confidence, and supporting economic growth in Jammu & Kashmir,” the handout added.

SRINAGAR, MARCH 09: The Union Ministry of Textiles has invited applications from registered artisans and craftsmen for National Handicrafts Awards (Shilp Guru & National Award) for the Award Year 2025 and Pension Scheme 2025-26, under its premier National Handicrafts Development Programme (NHDP) and Handicrafts Artisans Comprehensive Welfare Scheme.
In a press statement issued here today, a spokesman of the Handicrafts and Handloom Department, Kashmir, stated that the office of Development Commissioner (Handicrafts), Ministry of Textiles, has invited applications from registered artisans for Handicrafts Award 2025 under HSC for Srinagar, Budgam and Ganderbal districts, the last date of which has been fixed for March 31, 2026. “We urge the artisans to apply in online mode along with self-attested copies of documents including 02 recent passport size photographs, Adhaar, Artisan & PAN Cards, Award & Character Certificate, photograph of Award Entry, history of craft, his Brief Note along with videos and affidavit in a pen-drive,” he said, adding that the copies of the notification, along with enclosures, are available on the department’s official social media handles.
Similarly for Pension Scheme under the aegis of ‘Financial Support Scheme to Artisans in Indigent Circumstances’, the spokesman stated that the office of DC (Handicrafts), Government of India, has fixed April 02, 2026 as the last date of submission of forms in online mode from eligible artisans of Srinagar, Budgam and Ganderbal districts. “The documents to be affixed with online form include 02 recent passport size photographs, Adhaar, Artisan and PAN cards, Awards certificate, if any, Income Certificate, Caste and Disability Certificate, Age Certificate and affidavit along with Bank Mandate form,” he added.
The artisans have been further advised to submit their online applications complete in all respects at www.indian.handicrafts.gov.in

SRINAGAR, FEBRUARY 25: Director Agriculture Kashmir, Sartaj Ahmad Shah, today inaugurated an Exhibition cum Awareness and Promotion Programme dedicated to GI-tagged Kashmir Saffron at the Agriculture Complex, Lalmandi, Srinagar.
The event was organized by the Spices Board of India, Regional Office, Srinagar (Ministry of Commerce and Industry, Government of India). It aimed to showcase the exceptional qualities of Kashmir saffron, create greater awareness among stakeholders, and promote its international market potential following the award of the Geographical Indication (GI) tag.
In his inaugural address, the Director highlighted the various initiatives undertaken by the Department of Agriculture for the promotion and development of GI-tagged saffron. He reaffirmed the department’s full commitment to providing technical support, guidance, and assistance to saffron farmers to improve productivity, enhance production, and strengthen market linkages. He said that Saffron is our niche heritage crop, and Kashmir has the proud distinction of producing one of the finest and most premium saffrons
in the world. The GI tag has opened new global opportunities for our saffron, ensuring its authenticity and commanding higher value in international markets, he added. He called for a unified and collective approach among all stakeholders to further strengthen and promote the saffron sector.
The Director emphasized that the GI tag is playing a key role in enabling saffron growers to receive remunerative prices, thereby ensuring economic sustainability and long-term viability of saffron cultivation in the region.
Sartaj Ahmad Shah directed all concerned officers to ensure proactive outreach so that every saffron farmer is fully aware of the departmental schemes, programmes, and support measures available for the advancement and modernization of the saffron industry.
Earlier, the Director visited various exhibition stalls set up by the India International Kashmir Saffron Trading Centre (IIKSTC),Spices Board of India, and private entrepreneurs. These stalls displayed saffron products, cultivation practices, post-harvest techniques, and value-addition opportunities.
The programme was attended by representatives from the Spices Board of India, officers from IIKSTC and the Agriculture Department, and saffron growers.
This initiative reflects the strong collaboration between the Department of Agriculture Kashmir and the Spices Board of India to protect, preserve, and globally promote Kashmir’s iconic saffron while empowering farmers through better awareness, improved market access, and sustainable development practices.

11 tourist spots in Kashmir Division and 3 tourist spots in Jammu Division to be reopened immediately

3 tourist spots – Gurez, Athwatoo of Bandipora District and Bangus of Kupwara District in Kashmir Division and 1 tourist spot in Jammu Division- Ramkund of Ramban District will be reopened once snow gets cleared

JAMMU, FEBRUARY 16: After a thorough security review and discussion, Lieutenant Governor Shri Manoj Sinha on Monday has ordered the reopening of more tourist spots in Kashmir and Jammu Divisions, which were temporarily closed as precautionary measures.
11 tourist spots in Kashmir Division- Yousmarg and Doodhpathri in Budgam; Dandipora Park in Kokernag, Anantnag; Peer Ki Gali, Dubjan and Padpawan in Shopian; Astanpora and Tulip Garden in Srinagar; Thajwas Glacier and Hung Park in Ganderbal and Wullar/ Watlab in Baramulla to be reopened immediately.
Three tourist spots in Jammu Division- Devi Pindi in Reasi, Mahu Mangat in Ramban and Mughal Maidan in Kishtwar to be reopened immediately.
Three sites in Kashmir Division- Gurez and Athwatoo in Bandipora, Bangus in Kupwara and One site in Jammu Division- Ramkund in Ramban will be reopened once snow gets cleared.

Initiative aims to reconnect younger generation with Kashmir’s handcrafted traditions

BUDGAM, FEBRUARY 05: District Administration Budgam today inaugurated a three-day cultural and heritage workshop titled “Naqsh-e-Meeras”, aimed at promoting, preserving and reviving the rich and diverse traditional art and craft heritage of Jammu & Kashmir.
The workshop is being organised from 5th to 7th February, 2026 at the National Institute of Fashion Technology (NIFT), Budgam.
The programme was formally inaugurated by the Deputy Commissioner Budgam, Dr. Bilal Mohi-ud-Din Bhat, along with distinguished guests from the Indira Gandhi National Centre for the Arts (IGNCA), in the presence of senior district officers, artisans, students, Self Help Groups and members of the local community.
Speaking on the occasion, the Deputy Commissioner said that Naqsh-e-Meeras is a significant initiative of the District Administration to reconnect the younger generation with the rich legacy of Kashmir’s handcrafted traditions, while also providing a strong platform for local artisans to showcase their skills, products and creativity.
The DC emphasized that such heritage-based programmes are vital for preserving traditional knowledge systems that have been passed down through generations. He stated that Kashmir’s handicrafts are not just economic activities but are an important part of the region’s cultural identity, history and collective memory.
“We want our local art and crafts to flourish in a sustainable manner so that our younger generations understand the true value of handcrafted products and can clearly differentiate between machine-made and hand-made items. This understanding will help in preserving authenticity, quality and cultural heritage,” the DC said.
He further added that such seminars and workshops play a crucial role in boosting the morale of local artisans, craftsmen and children by giving them recognition, exposure and confidence.
“These platforms not only provide visibility to our artisans but also generate awareness among the masses to adopt and promote local products. This is fully aligned with the spirit of Vocal for Local, where people are encouraged to support indigenous crafts and local economies,” he said.
The DC also highlighted that showcasing traditional techniques and live demonstrations can significantly enhance the financial stability of artisans by opening new market avenues, increasing demand for authentic handmade products and creating sustainable livelihood opportunities.
By demonstrating old and traditional crafts in a modern, organised setting, we are creating linkages between heritage and contemporary markets. This will ultimately strengthen the economic position of our artisans and contribute to overall economic growth of the district and the region,” he added.
The DC stressed that the District Administration will continue to support such initiatives in collaboration with reputed national institutions to ensure that local craftsmanship receives the recognition, protection and promotion it truly deserves. He reiterated that District administration is committed to continue organising such heritage-focused programmes to promote cultural preservation, artisan empowerment, youth engagement and sustainable economic development across the district.
The event witnessed the presence of several senior district officers including GM DIC Budgam Zahid Rashid, SDM Beerwah Taufeeq Gazi, Chief Planning Officer Budgam Javaid Ahmad Najar, CEO Municipal Council Budgam Bilal Ahmad, CEO Budgam Rifat Irfan, District Information Officer Budgam Iram Khan, EO Municipal Committee Beerwah Zamir Lone, besides other senior officers of the district administration.
Large participation was also recorded from students of various schools and colleges, local youth, traditional artisans, Self Help Groups (SHGs), craftspersons and members of the general public, reflecting strong community engagement and interest in heritage preservation.
On the first day of the workshop, various competitions were organised including calligraphy, painting and sketching, aimed at nurturing creativity among students and young artists. Multiple stalls were set up showcasing a wide range of traditional crafts such as Paper Machie, Kani weaving, Sozni embroidery, cooper making, Kangri making, wood carving and other indigenous art forms.
An exclusive art gallery was also displayed featuring iconic paintings depicting old Jammu & Kashmir, offering visitors a glimpse into the region’s historical, cultural and artistic evolution.
Traditional activities such as yarn weaving and other heritage processes were also demonstrated live, giving participants a hands-on understanding of age-old techniques.
The workshop is being organised by District Administration Budgam in collaboration with the Indira Gandhi National Centre for the Arts (IGNCA) and the National Institute of Fashion Technology (NIFT), Budgam, ensuring expert guidance, technical support and national-level exposure for local talen.

Handicrafts & Handloom Dept refutes claims of art dying, published in a daily newspaper

SRINAGAR, JANUARY 31 – The Handicrafts and Handloom Department, Kashmir has strongly refuted certain portions of a news story published in a Local daily newspaper with headline – ‘The Art Will Die with Us’: Srinagar’s papier mache craftsmen battle extinction.

In a press release issued here today, a spokesman of the Department countered the claims made by Nasir Ahmad Mir, a papier mache craftsman, who was interviewed by a reporter for the news story published on 29.01.2026 of the said newspaper.

Giving details, the spokesperson stated that the Handicrafts and Handloom Department, Kashmir, has 19 training centres across Kashmir Division, imparting hands-on training in papier mache craft to around 400 artisans in elementary and advance training courses every year. “The Department has trained as many as 8,102 new papier mache artisans across the valley, who have taken the unique craft forward and carved out a niche for themselves,” he said, adding that a large number of papier mache artisans are still in the unorganised sector, who are being registered so that they can avail the benefits of various flagship schemes of the Government.

In order to promote and encourage artisans in papier mache craft, as many as 25 master craftsmen have been conferred with UT Awards over the last 10 years. “Apart from this, J&K has been made proud by papier mache craft maestros like Fayaz Ahmad Jan and Iqbal Hussain Khan, who have been conferred with Padma Shri & Shilp Guru awards respectively in recognition of their contribution in promotion of the craft,” he added.

Referring to the Department’s initiative of Know Your Artisan, under its Soulful Kashmir brand promotion, campaign, the spokesman said that special representation is made for papier mache craft, which remains the most popular, along with walnut wood carving, in the non-textile craft sector.

Apart from this, the spokesman added that a large number of papier mache artisans are recommended to JKTPO for participation in various J&K and national trade fairs, including IITF at Bharat Mandapam, Suraj Kund Mela in Haryana, Gandhi Shilp Bazaar and other high-profile events.

Dwelling upon the export potential of papier mache products, the spokesman stated that in the last 10 years, artefacts worth ₹212.06 Cr have been exported to outside destinations from Kashmir. “These figures remain the highest in respect of non-textile crafts in Kashmir Division,” he added.

In order to ensure the transition of skill from the master to the budding artisans, the Department has instituted a flagship Karkhandar Scheme in the department. “The scheme focuses on preserving traditional crafts such as papier mache, walnut wood carving, silver filigree, carpet weaving, Kani shawl weaving, Khatamband, and others like Sozni, tapestry, and engraved copperware,” he added.

Identifying the uniqueness of papier mache craft, both in sakhta and naqashi, the Department has obtained a GI registration for papier mache crafts from GI registry Chennai. “Authorised GI users can avail the facility of testing and QR Code based labelling at PTQCC, CDI, Srinagar, which shall go a long way in penetrating newer markets both within and outside the country.

In-house wool carding to cut outsourcing costs and strengthen livelihoods of Namda artisans

SRINAGAR, JANUARY 21: In a major fillip for revival of the indigenous Namda craft of Kashmir, Department of Handicrafts & Handloom, Kashmir today awarded contract for the Supply, Installation, Testing and Commissioning (SITC) of card cloth for wool carding machine through Mechanical & Hospitals Engineering Department.

The commissioned wool carding machine has an annual processing capacity of approximately 29,000 Kgs of wool. This enhanced capacity is expected to significantly strengthen the local value chain associated with the traditional Namda craft. The installation of this facility will substantially reduce the cost incurred on outsourcing wool carding, thereby directly benefiting artisans engaged in the Namda craft.

In a press statement issued by the department today, Deputy Director UNDP, Mirza Shahid Ali, said J&K is the second largest producer of wool fibre in India and ranks first in the production of Merino wool, despite this advantage, a substantial portion of raw wool has traditionally been sent outside J&K for carding, resulting in higher costs and delays.

He further stated, “This initiative is cost-effective, efficient and less labour-intensive and will play a major role in strengthening sustainable livelihoods, enhancing productivity and preserving Kashmir’s rich handicraft heritage, especially Namda which is in a revival mode”.

The department reiterated its commitment to providing modern infrastructure and technical support to traditional crafts, ensuring their revival, sustainability, and global competitiveness.

Characterized by robust top-line growth and better asset quality, our performance underscores our strong fundamentals: MD & CEO

Srinagar, January 20: J&K Bank today announced healthy financial results for the October-December quarter (Q3 FY 25-26), with net profit rising by 18.7% Quarter-on-Quarter and 10.4% year-on-year (YoY) to Rs 586.73 Cr when compared to Rs 531.51 Cr recorded during the same period last fiscal.

The Bank’s Board of Directors approved the numbers for the quarter and nine-months during a meeting held today at the Bank’s Divisional Office in Jammu.

Meanwhile, the Bank’s net profit for the first nine months of current financial year grew 4.5% YoY to Rs 1565.68 Cr as against Rs 1497.92 Cr recorded for the same period last year, reflecting its sustained growth trajectory.

Operating Highlights

The Bank’s Net Interest Margin (NIM) for the quarter has improved to 3.62%, up by 6 bps QoQ. Cost-to-Income Ratio of the Bank improved to 55.88% YoY for the quarter from 57.28%, while as Return on Assets (RoA) for nine-months stood at 1.23%.

The Bank’s operating metrics reflected steady growth, as the Net Interest Income (NII) witnessed 3.8% growth QoQ to Rs 1488.88 Cr, while the Other Income for the quarter surged 15.3% YoY to Rs 279.46 Cr from Rs 242.32 Cr recorded last financial year. The Bank’s Cost of Deposits also declined to 4.69% QoQ from 4.86%.

Commenting upon operating performance, MD & CEO Amitava Chatterjee said, “Despite rate cut, impairment provisioning for Grameen Bank and challenging conditions – particularly the events of April 22, their subsequent impact, and the floods that disrupted the local economy – the Bank remains firmly on track to deliver record profits for the fourth consecutive year.”

“Characterized by robust top-line growth and better asset quality, overall our Q3 performance underscores our strong fundamentals, disciplined execution, and sustained operational efficiency”, MD & CEO added.

Asset Quality

The Bank’s Gross NPA ratio declined YoY to 3.00%, down by 108 basis points (bps) from 4.08%, while as the Net NPA reduced by 26 bps YoY to 0.68% from 0.94% and 8 bps QoQ from 0.76%. The Provision Coverage Ratio (PCR) for the quarter is above 90% at 90.46%.

In his comments on asset quality, MD & CEO Amitava Chatterjee remarked, “Even as our core geography has navigated significant challenges extending beyond the banking sector, the Bank’s asset quality has continued to improve steadily. Supported by robust risk management practices, Gross NPAs have declined from around 4 percent to 3.00% percent, which is almost in line with our stated annual guidance.”

“The sustained improvement in asset quality despite such disturbances speaks volumes about the resilience and commitment of borrowers and the underlying robustness of the local economy”, he added.

Business Growth

Maintaining strong business momentum during the third quarter of the current financial year, the Bank recorded a robust YoY growth of 17.3% in gross advances and a healthy YoY growth of 10.6% in deposits. As on December 31, 2025, the Bank’s gross Advances surged to Rs 116248 Cr while total deposits reached Rs 155861 Cr.

Commenting on the business growth, MD & CEO Amitava Chatterjee said, “Delivering over 17% year-on-year growth in advances – well ahead of the guidance we had shared with the market – reflects the strength of our franchise, the effectiveness of our credit strategy and the meticulous execution by our teams on the ground. Double-digit growth of deposits in a competitive environment also highlights the trust reposed in the Bank by our customers.”

“The accelerated advances growth was driven by focused expansion in retail, MSME, agriculture and select corporate portfolios, supported by improved credit appetite and strengthened customer engagement across both core and emerging geographies. Our consistent focus on deepening relationships within JKL and beyond, improving product penetration and enhancing service delivery continues to support stable balance-sheet expansion”, he added.

Capital Adequacy

The Bank’s Capital Adequacy Ratio (CAR) under Basel III stood at 15%.

Regarding capital position, MD & CEO remarked, “With our CAR at 15% – which will be further augmented by internal accruals on account of net profit for current fiscal – we are well capitalized to expand our lending operations as per our business plan. Moreover, the board approved capital raise of Rs 1250 Cr will boost our capital adequacy and cushion us comfortably to support calibrated business expansion across key sectors.”

“It will enhance our ability to absorb risk, while reinforcing our long-term focus on sustaining asset quality, improving profitability and creating enduring value for our shareholders”, he added.

Key Initiatives

Highlighting the Bank’s key initiatives during the CFY so far, MD & CEO Amitava Chatterjee remarked, “During these quarters, we remained steadfast in supporting our customers, particularly through initiatives such as the 2025 Rehabilitation Package for disturbance-affected borrowers, which provided extended repayment timelines and additional credit support. This underscores our role as a responsible institution committed to sustaining livelihoods and economic activity in our core operational geographies.”

Terming digital transformation as central to the Bank’s strategy, he further added, “Simultaneously, we accelerated our digital transformation with the launch of several customer-focused innovations to strengthen customer experience, improve security and efficiency, and position the Bank for sustained, technology-led growth.”

On the occasion, MD & CEO Amitava Chatterjee extended heartfelt gratitude to the customers and stakeholders – especially the promoters – for their unwavering trust and continued support besides entire Bank staff for their steadfast dedication.

MUMBAI, JANUARY 16: Chief Minister Omar Abdullah has visited the Indian Institute of Creative Technologies (IICT) campus at the National Film Development Corporation (NFDC), Mumbai, on January 15, to explore avenues for institutional collaboration and student exchange between IICT and the Government of Jammu & Kashmir.

The visit, held at the IICT–NFDC Campus, was hosted by Dr. Vishwas Deoskar, Chief Executive Officer, IICT, along with Munjal Shroff, Governing Council Member, IICT.

During the visit, the Chief Minister was taken on a structured walkthrough of the IICT main campus, providing an overview of the institute’s academic ecosystem and advanced technology infrastructure. As part of the programme, he attended a curated audiovisual presentation at the Rangayan Preview Theatre, which showcased IICT’s vision, academic framework, and capabilities in creative and immersive technologies.

This was followed by a live demonstration at the Anubhuti Drishya Immersive Studio Lab, where applications of augmented reality (AR), virtual reality (VR), and mixed reality (MR) were showcased through hands-on experiential interactions.

The visit also featured a Digital Twin demonstration at the Photogrammetry Studio, where a live 3D photogrammetry scan was conducted to create a digital avatar, highlighting the practical applications of emerging immersive technologies.

A strategic discussion session was held to deliberate potential areas of collaboration between IICT and the Government of Jammu & Kashmir. The discussions focused on student exchange and institutional cooperation, particularly in skill development and capacity building in AVGC and emerging creative technologies; digital heritage and cultural preservation through immersive tools; and the development of a collaborative startup incubation and innovation ecosystem aimed at empowering youth from Jammu & Kashmir.

Speaking during the interaction, the Chief Minister said, “If we want Jammu and Kashmir to become an attractive destination for filmmaking, then human talent and post-production capability must be created locally. That is where a relationship with an institution like IICT becomes important for us.”

Speaking on the occasion, Dr. Vishwas Deoskar, CEO, IICT said that they look forward to exploring meaningful collaborations that can benefit students and young talent from Jammu & Kashmir by enabling skill development, fostering innovation, and creating sustainable employment and entrepreneurship opportunities.”

Following the discussions, the Chief Minister was escorted to the NFDC Bharat Pavilion and Museum, which chronicles India’s cinematic and creative heritage. The visit highlighted the role of the NFDC Museum as a national cultural repository dedicated to preserving, presenting, and celebrating India’s film and creative legacy, before the Chief Minister proceeded to his onward engagements at the NFDC campus.