CCIK seeks interest waiver on loans
GK NEWS NETWORK
Srinagar, June 24: The Associated Chamber of Commerce and Industries Kashmir (CCIK) has demanded that Valley traders should be given interest waiver on all types of loans raised from May 2010 to May 2011.
At a meeting with central bank’s ombudsman here, President CCIK M Afzal Parray, according to a chamber handout, said the Valley traders had suffered massive business losses in the wake of tumultuous situations that prevailed during last three years and more particularly last year.
“They are not in a position to pay huge interest on the loans they have availed,” he pleaded, adding that RBI should play its part in impressing on the Banks to waive interest on all types of loans the traders in the Valley have raised from May 2010 to May 2011.The delegation also urged the central bank to “enhance the time limit for realization of export proceeds by the exporters by six more months.”
It also urged the RBI that it should prescribe minimum documentation for bank loans to help the traders and common man. Meanwhile, the CCIK has appealed Income Tax Department to expedite the process of sending Refunds to the assessees.
Lastupdate on : Fri, 24 Jun 2011 21:30:00 Makkah time
Lastupdate on : Fri, 24 Jun 2011 18:30:00 GMT
Lastupdate on : Sat, 25 Jun 2011 00:00:00 IST
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