Chaya hails J&K Bank’s role in loan restructuring
Chairman Jammu and Kashmir Hoteliers Club, Mushtaq Chaya on Saturday hailed efforts of state's premier Jammu and Kashmir Bank and its chairman Pervaz Ahmad for convincing the Reserve Bank of India ( RBI) for allowing restructuring of more than two lakh 'stressed' loans in the state.
"We feel it expedient to convey sincere thanks to J&K Bank Chairman Parvez Ahmed and the state government for putting in the efforts to motivate and get the approval of RBI for restructuring of stressed loan account in the state," said Chaya.
Chaya said with restructuring of loans extended to borrowers not only the danger of NPAs will be averted, but it will be a matter of solace and relief for the business community of which a large number of members were on tenterhooks living under the threat of turning their accounts into NPAs.
Chaya said loan restructuring has kick-started a process that will mark revival of the economy which had been hit by the unrest. "The process has started by the virtue of which whole business community especially the hospitality industry is happy and hopes that government will continue to resolve their problems in the future too," Chaya said.