Srinagar: Kashmir Economic Alliance (KEA) delegation called upon the J&K Bank MD and CEO Baldev Parkash at the bank’s corporate headquarters here on Tuesday to discuss the issues faced by the business community.
As per the statement, the delegation was led by its Chairman Muhammad Yaseen Khan. He was accompanied by Qazi Tauseef who represented KTMF. Senior officers from J&K Bank Management which include Ashutosh Sareen, Syed Rais Maqbool, Syed Shujaat Hussain and Shabir Ahmad were present in the meeting.
KEA while expressing gratitude to the MD & CEO for his timely outreach to the bank’s different stakeholders especially the business community besides extending the much needed financial support to the affected, raised some issues concerning the business community and also suggested that customer service at the operative levels needs to be improved and made more responsive.
Khan who also heads Kashmir Traders & Manufacturers Federation (KTMF) requested the chairman for setting up a system which shall oversee the issues faced by the traders and also explore the common areas of interest. “They will brainstorm on the progress and challenges in the sectors besides deliberating on the resolution of stressed assets of the bank. Khan assured the Managing Director of J&K Bank that the Alliance would play an active role in the resolution of such cases,” the statement reads.
Interacting with the management J&K Bank, Khan said there is a lot of synergy between Alliance and the bank.
We would continue to work in close coordination and explore and exploit the under-serviced and potential sectors of the economy to strengthen the economy.
KEA requested the bank to leverage the credit guarantee fund scheme in an improved manner. There is no denying the fact J&K Bank is the lifeline of the J&K economy and people have huge expectations from this institution. With businesses on a slower path, J&K Bank has a vital role to play in getting the economy back on its feet, Khan observed.
While putting forward many suggestions before the MD, KEA requested comprehensive financial solutions for small-time traders and a soft OTS policy. The members also urged the bank to revisit the lending policies pertaining to horticulture, and education, relax lending guidelines to general traders falling under the MSME sector, review rating mechanisms and formulate a restructuring plan to provide additional funding to the borrowers.
Reiterating the trust reposed by the people of J&K in the region’s premier financial institution, KEA expressed a feeling of pride for being associated with the Bank which they said, “is the only bank they bank upon” and a buttress to the trade and the business community. They requested the chairman to introduce schemes for the development of sports and medical infrastructure and promotion of the education sector as well.
While interacting with the members of the delegation, MD & CEO Baldev Parkash assured the delegation members that their suggestions and the issues discussed would be considered by the bank on merit and resolved in a time-bound manner.