Srinagar: President Kashmir Chamber of Commerce and Industry ( KCCI ) Javed Ahmad Tenga called on the Lt. Governor Manoj Sinha at Raj Bhavan and apprised him about the deliberations of with the Indian Ambassador to Saudi Arabia regarding holding Road Shows in Jeddah, Riyadh and Dammam.
A statement said that LG assured all the support of the Government for which President KCCI expressed gratitude to him.
"The President KCCI also discussed the matter of the recently announced OTS Scheme announced by J&K Bank and sought his intervention in resolving the matter of NPA’s with the J&K Bank," the statement said.
It said that the President KCCI later held a meeting with the MD/CEO of J&K Bank Baldev Prakash and requested him to suspend action against the stressed borrowers and provide them with appropriate time to straighten their accounts.
He also impressed upon him the need to announce a new OTS Scheme with a longer duration for settlement with a higher limit than the previous Scheme.
He informed the J&K Bank MD that Bank action against borrowers had shocked the business community at large.
The MD/CEO J&K Bank assured to look into the genuine cases which should be reciprocated by the borrowers.The KCCI President appreciated MD/CEO J&K Bank for his positive response and assured him that KCCI will advise borrowers to avail of such opportunities, the statement said.