JAT Holdings PLC signs MoU with HDFC Bank

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JAT Holdings PLC recently signed a Memorandum of Understanding (MoU) with the Housing Development Finance Corporation Bank of Sri Lanka (HDFC) in an effort to strengthen the organization’s ‘JAT Pinthaaroo-ShilpeeAbhiman’ programme, which provides training and apprenticeships to woodcraftsmen and professional painters across the country. The signing took place on 6 June 2022 at the JAT auditorium, in the presence of officials from JAT Holdings PLC, HDFC Bank and the National Apprentice Industrial Training Authority (NAITA).

With the aim to uplift the level of skill and professionalism of woodcraftsmen and professional painters, while elevating current industry standards, the ‘JAT Pintharoo-ShilpeeAbhiman’programme, conducted in partnership with NAITA, allows aspiring woodcraftsmen and professional painters to participate and obtain an NVQ Level three Certification on the correct and professional methods used for painting; with all expenses borne by JAT Holdings PLC.

JAT’s collaboration with HDFC Bank will further expand the programme’s offering, allowing its participants to obtain credit facilities for work-related matters and receive financial awareness education training from bank representatives, which will further improve their business acumen and skills. The ‘JAT Pintharoo-ShilpeeAbhiman’ programme also stands as a unique, industry-first initiative which strengthens the financial credibility of woodcraftsmen and professional painters,who traditionally do not have access to official credit facilities to further their business interests.

As an outcome of this initiative, painters who receive JAT’s recommendation will have the opportunity to receive loans and design a credit delivery mechanism and loan recovery system. The loans can be utilised to purchase their painting equipment and working capital requirements. As part of the agreement, participants can take part in knowledge sharing training, capacity building, entrepreneurship development, financial literacy, credit clinic and recovery programmes on a periodical basis and improve their financial prudence and business acumen.