PSL for pow­er­ful, flex­i­ble

Bhutan Times - - Home - Staff Re­porter

With the growth of dig­i­tal chan­nels, an on­line ap­pli­ca­tion for Pri­or­ity Sec­tor Lend­ing (PSL) Sys­tem was launched on 5 Novem­ber at Fi­nan­cial In­sti­tu­tion Train­ing In­sti­tute (FITI) in Thim­phu.

The on­line sys­tem is ex­pected to de­liver the pub­lic ser­vice ef­fi­ciency and re­duce the pa­per work.

With the launched of an on­line ser­vice, the client wishes to avail them­selves of the ser­vice un­der PSL scheme is set to be­come eas­ier with­out hav­ing to go to the of­fice.

The sys­tem linked to the ex­ist­ing G2C sys­tem is ex­pected to sup­port and fa­cil­i­tate sub­mis­sion of ap­pli­ca­tions and in op­er­a­tional­is­ing the PSL scheme.

Ac­cord­ing to the press re­lease from the Min­istry of Eco­nomic Af­fairs (MoEA), the on­line sys­tem will fa­cil­i­tate the ap­pli­cants and help the rel­e­vant ser­vice providers in ful­fill­ing the ex­pected PSL scheme. “The sys­tem shall sup­ple­ment to the RMA’s PSL scheme in eas­ing pro­cesses and fur­ther im­prov­ing ac­cess to credit to the cot­tage and small in­dus­tries.”

The on­line PSL sys­tem for ap­pli­ca­tion, ap­praisal and ap­proval of PSL loans have been de­vel­oped and made op­er­a­tional as a re­sult of con­certed ef­fort by the min­istry in co­or­di­na­tion and col­lab­o­ra­tion with the G2C of­fice, Cab­i­net Sec­re­tariat, RMA and Fi­nan­cial in­sti­tu­tions.

The Depart­ment of Cot­tage and Small In­dus­try tested the sys­tem in col- lab­o­ra­tion with the ICT divi­sion of Min­istry of Econonic Af­fairs.

Be­sides, the sys­tem was demon­strated to the fi­nan­cial in­sti­tu­tions and Dzongkhag PSL com­mit­tees. The press re­lease states, “Dur­ing the launch, the Chief ICT of­fi­cer made a pre­sen­ta­tion on the flow of the sys­tem.”

Dasho Pen­jore, Gover­nor for RMA launched the on­line ap­pli­ca­tion. The event was at­tended by the sec­re­tary for the MoEA with se­nior of­fi­cials, CEOs of the fi­nan­cial in­sti­tu­tions and fo­cal per­sons of the PSL scheme.

Newspapers in English

Newspapers from Bhutan

© PressReader. All rights reserved.