FCIK snubs ‘hostile’ attitude of banks in Kashmir
GK NEWS NETWORK
Srinagar, Mar 24: President, Federation Chamber of Industries Kashmir Afaq Qadri today deplored the “hostile” attitude of the Banks towards Industry in the Kashmir.
Speaking at the SLBC at Jammu, he said the relaxations and concessions provided under special package for industry and trade in J&K “are only on papers and the banks do not implement them in letter and spirit.”
“As per the relaxations the banks have been asked to issue Bank guarantees to the stake holders at a margin of 15 per cent but in practice no bank agrees to issue guarantees on margins below 30 per cent and in most of the cases 100 per cent margin is demanded,” Afaq said.
Afaq said the Banks in the Kashmir have simply refused to implement RBI guideline providing for relaxation to the industry.
The President FCIK also raised issue of non implementation of the rehabilitation policy announced by the state government. He said not a single case of rehabilitation of sick industrial unit has reached to its logical conclusion till date.
“Although the policy was formulated in 1999.only 38 cases of rehabilitation of sick industrial units have been taken for consideration during these 12 years,” he said.
Lastupdate on : Thu, 24 Mar 2011 21:30:00 Makkah time
Lastupdate on : Thu, 24 Mar 2011 18:30:00 GMT
Lastupdate on : Fri, 25 Mar 2011 00:00:00 IST
- MORE FROM BUSINESS
- SLBC recommends 2-yr extension of special package for trade, industry
- FCIK snubs ‘hostile’ attitude of banks in Kashmir
- Jamkash Vehicleades delivers 153 vehicles in 2 days
- Horizon Group to showcase its projects in Srinagar
- JKSRTC to procure 450 new buses
- ‘Rs 4400 cr allocated under state sector’
- HDFC Bank opens branch
- Laptop for Rs 5000!
Issue reaches CM as blacklisted firms figure in approval list
GK NEWS NETWORK
Srinagar, Mar 24: Purchase committee of the Health Department has approved a Jammu-based pharma company for procurement of costly equipment allegedly in violation of tender norms.Vide approval no. GMC More
- Srinagar City
Encroached footpaths, open manholes hinder pedestrian movement
Srinagar, Mar 24: Walking down few miles in the commercial centre of the city, historic Lal Chowk used to be an ideal activity for any commuter. But this walk has turned terrible owing to encroached footpaths More
‘449 officials facing trial in corruption cases’
Jammu, Mar 24: As many as 449 Gazetted officers (GOs) of various government departments are facing trial in the Courts in 210 corruption cases across the State.Chief Minister Omar Abdullah, in a written More
- News in Brief
Srinagar: A joint delegation of Jammu Kashmir Salvation Movement and Joint Association of Kashmiri Affected Families on Wednesday met the visiting Amnesty International team here. JKSM general secretary More
GK NEWS NETWORK
Jammu, Mar 24: The Sub-Committee of J&K State Level Bankers’ Committee (SLBC) today recommended two-year extension to special package of concessions/relaxations to trade and industry in J&K.  More