Hi guest, Register | Login | Contact Us
Welcome to Phayul.com - Our News Your Views
Tue 22, Jan 2019 08:02 PM (IST)
Search:     powered by Google
 MENU
Home
News
Photo News
Opinions
Statements &
Press Releases

Book Reviews
Movie Reviews
Interviews
Travels
Health
Obituaries
News Discussions
News Archives
Download photos from Tibet
 Latest Stories
Stop worshipping Buddha or lose government subsidy: Chinese govt. to Tibetan Buddhists
Tibetan monk released after completing prison term
Charges on Tsegon Gyal, Tashi Wangchuk baseless: says HRW Annual Report
Tibetan monastery, Indian University sign MoU to collaborate on studies
TPI to host the first conference of young Indian scholars on Tibetan studies
Only 80 Tibetans fled Tibet in 2018: Senior CTA official
Dzogchen Rinpoche Jigme Losel Wangpo selected new head of Nyingma
DIIR commences “Tibetan Issues and International Community” workshop
Maiden Tibetan-run rice mill launch products
University for Tibetans ends instruction in Tibetan language
 Latest Photo News
Winner of the Miss Himalaya Pageant 2018 Ritika Sharma, First Runner-up Palak Sharma and Second-Runner-up Ashima Sharma wave to the audience during the Miss Himalaya Pageant 2018 in McLeod Ganj, India, on 6 October 2018, Photo: L. Wangyal
His Holiness the Dalai Lama arrives to begin his four day teaching on the request of a Taiwanese group, Tsuglakhang courtyard, Theckchen Choeling, McLeod Ganj, October . 3, 2018. OHHDL Photo/Ven. Tenzin Jamphel
Tibetan spiritual leader His Holiness the Dalai Lama addresses the gathering during the 50th year celebration of Tibet Insitute Rikon. The event was attended by around 4000 people from all parts of Europe. Around 4000 people have come to attend the function organised by Tibet Institute Rikon with support of Tibetan Community in Switzerland and Liechtensein. Winterthur, September 22, 2018. Phayul photo/Norbu Wangyal
more photos »
Advertisement
CTA Finance Department announces new loan for Summer businesses
[Friday, January 11, 2019 16:01]
By: Tenzin Sangmo

Phayul Photo: Kunsang Gashon
Phayul Photo: Kunsang Gashon
DHARAMSHALA, Jan 11: At a press conference held this morning at the Kashag Secretariat, the Social and Resource Development Fund (SARD) under the Department of Finance announced a new Summer Livelihood Support Program (SLSP) to be rolled out in 2019.

“It is to support the community member whose major business activity is in the summer season which is more organized,” said the press release issued at the event.

According to a survey undertaken by SARD, it was found that there are over 35 well-established summer retail markets all over India with 1594 shops. SARD selected 13 markets for the inaugural SLSP based on selection criteria that will benefit approximately 600 shopkeepers.

The shopkeeper will be loaned two lakhs each, making the total 12 crores. With an interest of 3%, the program will start in February and loans need to be paid back by July, 2019.

The press conference was presided over by CTA President Dr. Lobsang Sangay, Finance Kalon Karma Yeshi, among others.

SARD, in the past had provided loans to winter sweater sellers, taxi drivers and hawkers, claiming that they saw a swift return of the loans. “USAID has expressed surprise at the 100% return rate and has been supportive of more initiatives,” said Sangay.

Thanking the team for their good work, Sangay said “It is predicted that by 2020, half of the exile Tibetan population will be living abroad. These loan programs are to assist Tibetans living in India, by creating sources of livelihood and jobs.”

Sangay’s administration also introduced the Gang-jong development Finance Pvt. Ltd (Ganjong Finance), that received license from Reserve Bank of India on December 13, 2018 as a Non-Banking Financial Institution (NBFI).

“It is set up as an exclusive and specialized financial institution for Tibetans in India, and is now getting ready for full-scale business operations,” said the press release.

With the brand name of TibFin, the mission is to make the community financially inclusive and to develop services. “We should be able to circulate our own money, and the public can own shares in it,” said Yeshi.

Asked what CTA can do to build trust in the hearts of Tibetan people who had bad experiences in the past, the Finance Kalon said that the programs in the past were private endeavours, inexperienced and unofficial.

“We now have legal certificates, and it is manned by the CTA under the blessing of His Holiness the Dalai Lama. If any issue comes up, RBI rules will apply and disputes can be legally sorted out.”


Print Send Bookmark and Share
  Readers' Comments »
Be the first to comment on this article

 Other Stories
CTA addresses public dissent over "overseas Tibetans" term in survey form
CTA Finance Department announces new loan for Summer businesses
Advertisement
Advertisement
Photo Galleries
Advertisement
Phayul.com does not endorse the advertisements placed on the site. It does not have any control over the google ads. Please send the URL of the ads if found objectionable to editor@phayul.com
Copyright © 2004-2019 Phayul.com   feedback | advertise | contact us
Powered by Lateng Online
Advertisement