<span style="color: #222222;">In the Union Territory of Jammu and Kashmir, Lieutenant Governor, Manoj Sinha today approved the further release of Rs 250 crore as Interest Subvention, part of economic package for revival of business and industry in J&K. AIR Jammu Correspondent reports that the LG handed over a cheque of the said amount to J&K Bank as third instalment of the 5 per cent Interest Subvention.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The UT Govt. had already released Rs 500 crore so far, and today another instalment of Rs 250 crore rupees as 5 per cent Interest Subvention was released as part of the overall package of Rs 1353 crore. The Interest Subvention has so far provided immense relief to 3.44 lakh borrowers in the current COVID-19 crisis. J&K government had announced a mega Relief and Revival Package of Rs 1353 crore on September 19th, 2020 to help J&K business sector to tide over the COVID-19 crisis and other difficulties. </span><br />'' <br />'' <span style="color: #222222;">The business revival package involved relief measures, both financial and non-financial, aimed primarily at the sectors which had been most affected by the ongoing situation so as to achieve sustainable and continued growth. The LG observed that the core component of the package was Rs 950 crore as 5 per cent Interest Subvention to all borrowers. Apart from Interest Subvention, Local and MSME filters have also been operationalised on GeM enabling all departments in J&K to procure Goods and Services from the local manufacturers.</span><br />''  <br />